First Capital Bank to build green-rated headquarters

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By Alois Vinga

LISTED financial services provider is set to construct a green-rated headquarters in Borrowdale in a development that indicates the institution’s long-term commitment to Zimbabwe.

The new building will be constructed on a 5 000 square meters piece of land and will be a 5-star green-rated building.

The design and architecture of the building will thus symbolise modernity while it conforms to climate smart and energy efficient requirements as the institution continues to meet the expanding business needs.

Speaking at the groundbreaking occasion Friday, the newly appointed Chief Executive Officer of First Capital Bank Limited Tapera Mushoriwa said the gesture is an expression of confidence in the country’s economic potential.

“We are firmly digging our roots in Zimbabwe and have confidence in its economic potential. We are committed to leveraging our regional capabilities to realise mutual growth prospects for all our key stakeholders.

“In addition, we are excited at the new potential that our new head office will unlock for us. This modern and environmentally friendly building also presents an opportunity to provide a world class working environment for our staff that is instrumental in driving the business,” he said.

Also speaking at the occasion, Reserve Bank of Zimbabwe (RBZ) acting governor, Doctor Jesimen Chipika expressed hope that the development will attract more in the local and international space and enables First Capital Bank to participate in big-ticket transactions that are relevant to the economy.

“The banking institutions are the bedrock of the financial sector as they play a critical financial intermediary role in the economy. Through their intermediary role, Unrestricted banking institutions have the power to redirect capital to accelerate the pace and scale of positive change in our economy.

“FCB initiative supports efforts towards achieving Zimbabwe’s vision of becoming an Upper-Middle Income Economy by 2030 and is aligned to the National Development Strategy 1 (NDS1) (2021-2025),” she said.

This development comes a few months after First Capital Bank became the first bank to list on the Victoria Falls Stock Exchange (VFEX), a move that is set to unlock foreign investment opportunities and long-term shareholder value for the organisation.

FCB’s performance has remained resilient and stable showing incremental growth in the current macroeconomic environment.

In addition to the EUR12.5m Foreign lines of credit from the European Investment Bank, First Capital, secured US$20m through Afreximbank in the previous quarter of this year. This demonstrates the trust partners have in our organization.