FBCHL buoyant amid severe economic headwinds

CLOUDINE MATOLA

FBC Holdings Limited, a publicly traded financial services group, is optimistic about its long-term growth prospects despite the ongoing economic challenges in Zimbabwe.

FBCHL credits its confidence to a resilient business model, expert management, and a diversified portfolio, which together provide a strong foundation for navigating market uncertainties.

Tichaona Mabeza, the Group’s company secretary, emphasized that while macroeconomic conditions continue to ravage the economy, FBCHL is buoyed by its strategic approach to business and its ability to adapt to changing economic dynamics.

“Whilst the operating environment is still faced with macro-economic challenges, the group remains guardedly optimistic about the future. Our robust business model, experienced management team and diversified portfolio, provide a strong foundation for navigating these complexities. We are confident in our ability to adapt to the evolving economic landscape and to continue delivering sustainable long-term growth,” Mabeza said.

He further noted that the group remains vigilant in monitoring economic trends and will continue implementing strategies designed to create shareholder value and enhance returns.

For the quarter to  September 30, 2024, FBCHL reported total income of ZWG 4.9bn, supported by strong performance in net foreign currency trading and dealing activities. The group achieved a profit before tax of ZWG 2.1bn and a profit after tax of ZWG1.9bn.

As of September 30, 2024, the company’s total assets were valued at ZWG 17.3bn, with shareholder equity standing at ZWG 3.9bn.

Mabeza attributed the group’s solid performance to its diversified business structure and prudent cost management. He also highlighted the importance of FBCHL’s longstanding client relationships, which provide stability and resilience in times of economic turbulence.

“Our diversified financial service clusters act as a cushion against market fluctuations and systemic downside risks.

“Additionally, our long-standing client relationships provide the stability and capacity needed to navigate economic turbulence,” he said.

Looking forward, Mabeza emphasized that maintaining operational efficiency and cost discipline will remain key strategic priorities for the group in its pursuit of sustained profitability, despite ongoing economic volatility.