Apparently CBZ is in talks to buy Beverley Building,. I think this is a great move by CBZ, even though the current mortgage market is dead, its a good future investment. Banks and building societies have always remained separate entities but they have one core principal which is lending so it makes it wise for a bank to lend mortgage finance too. This is quite popular in most countries where virtually all banks offer mortgage lending too. Mortgage lending can be quite lucrative business and CBZ is eyeing that. I think it will be a best buy now when the mortgage market isnt doing so well, because they will buy beverly at a bargain. CBZ is heading to being the biggest bank in Zimbabwe. I hope they dont lose focus by just acquiring all these companies and end up not managing it well.

There is still a lot of work to be done in terms of mortgages being accessible to most people. At the moment very few people can afford it, and evenso doing the sums simply doesnt add up

Source: Financial Gazette

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