The ZSE has provided great results in 2020 for investors and we continue to pick apart the counters on the exchange to give you an idea of who is who. Financial services counters are some of the more prominent counters on the ZSE with a few exceptions of course. The list of 9 financial counters is spread out between banks, insurers and microfinance institutions.


CBZ has been nothing short of a revelation in 2020. By far the best performing counter the banking group has grown from strength to strength. They recently had a fine that was weighing heavily on them lifted and this makes the future even brighter for CBZ. They are in traditional banking, insurance and involved in financing projects around the country. The recent clipping of the wings of mobile money operators the bank is poised to get a boost as it is one of the better-run banks in Zimbabwe.


Another Banking group that has done amazing things FBC has brought incredible returns to investors over the year so far. FBC like most banks is involved in traditional banking, insurance and asset management but a significant portion of their income in recent times has come from active trading on the ZSE. Things certainly look good for this bank as well.

Fidelity Life

Fidelity is a diversified insurance company that offers short term insurance, long term insurance, life assurance and asset management. Their wide array of products has helped steady business with the ups and downs of the Zimbabwean economy. Fidelity has offered handsome rewards to investors in 2020 and the outlook is good despite the economic challenges.

First Capital bank

This bank has been through some things but remains a strong bank. With one of the biggest and oldest commercial banking networks in Zimbabwe, they cover a wide range of areas from domestic and international transacting to lending, treasury and foreign exchange. First capital could be a dark horse with the changes in transacting that are coming up.


First Mutual Life is a big player in insurance. More so since their infamous takeover of Nicoz Diamond insurance. First mutual offers health insurance, life assurance, funeral insurance, property management and other investment products.  First mutual has provided inflation-beating returns in 2020.


Getbucks is a microfinance institution that is in a spot of bother at present. Firmly one of the worst performers this year as it is not trading the company has not published financials recently. They sought an extension to their reporting deadline to 30th September 2020 but have sought and been granted a further extension to 31 October 2020. They cite the problem of changes in effective interest rate which impacts their reporting accuracy.  They identify themself as a Fintech company.


Formerly the national Merchant bank of Zimbabwe NMBZ is a product of financial system liberalisation of the 1990s in Zimbabwe. The bank is involved in personal banking, business banking, Insurance and corporate banking. NMBZ is a solid counter with healthy returns over the year 2020. They are still one of the smaller banks in Zimbabwe with room to grow.


From one of the smaller banks in Zimbabwe to one of the largest, ZB Financial Holdings formerly known as ZimBank is about as big as they come. ZB Financial holdings is a commercial banking group that also does insurance, financing and transactional business with a large network across Zimbabwe. This is another bank that has rewarded investors very well on the ZSE.


Zimre Holdings Limited listed on the Zimbabwe stock exchange in 1999. The insurer and reinsurer also interest in asset management and acquired agro-industrial company CFI in 2009. ZHL has performed very well for investors in 2020.