NMBZ Holdings Completes Acquisition of EFC Zambia
NMBZ Holdings Limited, a leading Zimbabwean financial services group, has completed the acquisition of Entrepreneurs Financial Centre (EFC) Zambia, a licensed deposit-taking microfinance institution, following approval from the Competition and Consumer Protection Commission (CCPC).
The acquisition marks a significant milestone for EFC Zambia and represents a key step in NMBZ’s regional growth strategy, reinforcing its commitment to advancing financial inclusion across Southern Africa.
NMBZ said the transaction is both strategic and transformative, enabling the group to expand its footprint in Zambia while strengthening support for micro, small and medium-sized enterprises (MSMEs). The partnership is expected to accelerate financial inclusion, introduce innovative digital solutions and enhance access to finance for entrepreneurs.
Speaking on the acquisition, NMBZ Group representatives said the group is committed to building strong financial institutions that drive economic growth and prosperity, adding that Zambia remains a priority market within its regional expansion plans.
Chief Executive Officer of EFC Zambia, Mr Bedah Salasini, described the acquisition as a significant step forward for the institution.
“This partnership brings enhanced capital strength, advanced digital solutions and access to broader regional expertise,” Mr Salasini said. “Most importantly, it allows us to continue serving our clients more effectively while contributing meaningfully to Zambia’s economic growth.”
For clients and stakeholders, the backing of NMBZ means access to a wider range of banking and digital solutions, enabling customers to transact anytime and anywhere. The enhanced capabilities are expected to allow EFC Zambia to scale efficiently, support trade and promote sustainable growth. Employees and the wider market can also expect continued investment and innovation aimed at driving Zambia’s economic transformation.
NMBZ said it is committed to building on EFC Zambia’s legacy while introducing new capabilities that will strengthen the institution’s role as a catalyst for job creation, entrepreneurship and inclusive economic development.
The group also expressed gratitude to the outgoing shareholders, including DFI partners AfricInvest, Bamboo and Triple Jump, for their support and guidance in building EFC Zambia into one of the country’s leading microfinance institutions serving MSMEs.
NMBZ Holdings Limited is a diversified financial services group headquartered in Harare, Zimbabwe, and listed on the Zimbabwe Stock Exchange. Its subsidiaries include NMB Bank Limited, XPlug Solutions, NMB Properties and now EFC Zambia.
The group has operations and a technology footprint in seven African countries and is recognised for integrity, innovation and excellence in digital banking and financial performance.
EFC Zambia, formally known as Pulse Financial Services Limited trading as Entrepreneurs Financial Centre, is a deposit-taking microfinance institution focused on promoting financial inclusion by providing tailored financial solutions to MSMEs and entrepreneurs across Zambia.
