CBZ Custodial Services is regulated by the Securities Exchange Commission of Zimbabwe (SECZ) and was established in terms of the Securities Act (Chapter 24:25). The unit is located at Ground Floor Fanum House, 57 Samora Machel Avenue, Harare. CBZ Custodial Services offers a wide range of services to institutions and individuals trading on the Zimbabwe Stock Exchange (ZSE) and on the Money Market.
Our client base includes:
- Pension Funds
- Private Investors
- Unit Trust Companies
- Insurance and Assurance Companies
- Asset Managers
- Corporate Investors
Our custody service offers exceptional execution, global consistency and local market expertise. The core of our offering includes:
- Safekeeping of Investors Assets
- Trade Processing and Settlement
- Registration of Securities
- Corporate Actions
- Income Collection
- Reconciliatory Role
- Compliance Monitoring and Reporting
- Client Reporting
- Dematerialisation of Securities
CBZ Custodial Services provides safe custody of clients’ important documents such as share certificates, bonds, title deeds, educational certificates, wills and any other documents the clients would like to keep safely. The securities and documents are kept in a vault under dual custodianship which is under 24 hour surveillance through CCTV. The place is manned by highly trained security guards who provide 24 hour security.
Trade Processing and Settlement
CBZ Custodial Services settles all transactions for clients on receipt of instructions from investors and processing takes place in a highly secure environment. Pre-matching, confirmation and due diligence with the parties in the investment cycle are key components of our settlement process.
Registration of Securities
CBZ Custodial Services ensures the beneficial owner model is adopted in accordance with the new SECZ regulations by ensuring legal registration of securities in the name of the investors after receiving instructions from the Asset Managers and clients.
Corporate Actions Administration
CBZ Custodial Services market surveillance keeps up to date with forthcoming market and corporate events for efficient service delivery. All events (mandatory and voluntary) are pre-advised to the Asset Manager giving the salient dates, client eligibility and action required.
Corporate events that we keep track of and process include the following:
- Cash Dividends
- Bonus Issues
- Scrip Dividend Options
- Call Bonds
- Spin Offs
- Share Consolidations
- Share splits
- Rights Issues
CBZ Custodial Services is responsible for the timely collection of dividends on equity securities, interest on bonds and cash equivalent.
CBZ Custodial Services reconciles portfolio transactions daily / weekly / monthly on behalf of the client and also upon request by clients.
Compliance Monitoring and Reporting
CBZ Custodial Services ensures compliance of the funds with the laws that govern the operation of the particular fund. A compliance monitoring process is already embedded in the custodial services operations within the bank structures. Compliance status of investor funds are regularly communicated to investors.
CBZ Custodial Services provides comprehensive reporting as per the investors’ needs. The following are examples of the reports which customers can request from the unit:
- DEPO-X CSD Holding Statement
- Monthly statement of securities transactions
- Month-end valuation reports
- Annual valuation client portfolio reports
- Quarterly or bi-annual trustees meetings
- Quarterly newsletter
- Any other reports as requested by the client
CBZ Custodial Services invested in an efficient IT system called IDEAL which is widely used internationally. The system is equipped with the following modules:
- IDEAL FUNDS MANAGEMENT Module which records and keeps track of physical certificate movement to/from the vaults.
- IDEAL WEALTH MANAGEMENT Module which records and keep track of all equity & money market & cash transactions
Benefits to our Clients
CBZ Custodial Services is a client-centred custodian dedicated to satisfying customer needs by being responsive, professional, efficient and reliable. The core custodial services benefits that are enjoyed by our clients include:
- Customer Focus
- Governance Conscious
CBZ Custodial Services is a unit embedded in the Bank which is part of the CBZ group that enjoys the following synergies which are beneficial to our investors:
- CBZ Bank is a settlement bank for CSD and that provides convenient settlement of transactions at lower costs.
- The amalgamation resulted in more CBZ Branches all over Zimbabwe, which means a wider geographical spread / accessibility to our investors.
- The amalgamation also means significant cost-savings will be realised by the investor who is both a CBZ Asset Manager / Datvest customer and a CBZ Custodial Services client.
- The amalgamation means that a platform has now been created for product development and innovation, which means finding more ways to make investing an even more enjoyable experience for our clients.
- Clients are able to have all their financial services needs addressed under one roof.
- The most important and greatest benefit will be felt by the investor, as the consolidation is designed specifically to make CBZ Custodial Services an extremely customer-centric custodian.
Service Level Agreement
CBZ Custodial Services and the investor will sign a Service Level Agreement to formalise the relationship before take-on of the assets.
Physical Address: Ground Floor, Fanum House 57 Samora Machel Avenue Harare