NMBZ Holdings has acquired a controlling stake in the Zambian deposit-taking microfinance institution, Entrepreneurs Financial Centre (EFC), following regulatory approval from the Competition and Consumer Protection Commission.
The strategic acquisition cements the group’s regional expansion strategy with a footprint in about seven African markets. It further synergises NMBZ’s solid balance sheet and digital banking forte with EFC’s growing SME client base.
“This milestone marks an exciting new chapter for EFC Zambia as it becomes part of a strong and growing financial service group.
“The transaction also aligns with NMBZ’s regional growth strategy and commitment to advancing financial inclusion across Southern Africa,” EFC said in a statement.