Rebecca Gaskin Gain is an accomplished international finance and law attorney whose professional experience spans continents such as Europe, America, and Africa. Specializing in organizational strategy, Rebecca Gaskin Gain, who is also instrumental in guiding foreign direct investments, serves as an independent non-executive director at Zimbabwe's CBZ Holdings.
CBZ Bank, Zimbabwe's largest bank and lender, announced completing a 31 percent acquisition of First Mutual Holdings Limited. In a stock exchange filing, CBZ confirmed it had reached a settlement with the National Social Security Authority (NSSA), the previous shareholders, to acquire the First Mutual stock. NSSA, whose total investments are valued at $1 billion, has sold some of its investments. It plans to re-invest part of the proceeds into forex-earning investments to comply with regulatory demands. With a 66.22 percent share in First Mutual Holdings, NSSA violated stock exchange and IPEC (Insurance and Pensions Commission) regulations. NSSA was the largest First Mutual Holdings shareholder before CBZ Bank acquired 31.22 percent of its share, expanding its foothold in the country's insurance and property sector. Despite reducing its shareholding, NSSA will remain First Mutual Holdings' largest shareholder with a 35 percent stake but will enjoy the support of CBZ Bank, an institution with solid financial backing. CBZ, Zimbabwe's largest bank by assets has been on a mission to expand its influence in the financial services sector. Also the largest agricultural lender, the bank is planning to acquire ZB Bank, a smaller financial institution, to consolidate its influence at the top of Zimbabwe's banking industry.
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A financial leader with over three decades of experience in international finance and law, Rebecca Gaskin Gain holds a JD from Emory University School of Law. Throughout her career, she has worked across multiple continents, including eastern Europe and Africa. Rebecca Gaskin Gain serves as an independent non-executive director at CBZ Holdings.
A subsidiary of CBZ Holdings, CBZ Agro-Yield (Private) Limited works in conjunction with the Zimbabwean government through the Ministry of Agriculture and the Ministry of Finance and Economic Development. These three organizations are the major stakeholders in the National Enhanced Agriculture Productivity Scheme (NEAPS). NEAPS was established to create and sustain food security in Zimbabwe through the extension of agricultural loans and financial support for maize, soya bean, and wheat production. To ensure the program's success, productive farmers are granted loan extensions and other benefits. The goal is to dole out funds to farms that can use inputs efficiently. Another section of the program focuses on expanding the area of agricultural lands in the country. During the 2021/22 session, the program focused on establishing 390,000 hectares of maize and 40,000 hectares of soya bean farms. A graduate of Emory University School of Law and Wake Forest University, Rebecca Gaskin Gain is an international business leader and financial professional who has managed the financial aspects of significant energy and infrastructure projects in Africa. Leveraging her financial background, Rebecca Gaskin Gain now serves as an independent non-executive director for Zimbabwe's largest financial institution, CBZ Holdings.
CBZ Holdings, one of the largest and most diversified financial service groups in Zimbabwe, has prospects of achieving a huge rise in revenue due to its investment in the Zimbabwean agricultural sector - according to a report from the equity research firm IH Securities. CBZ Agro-Yield is CBZ Holding's subsidiary agro-business. CBZ Agro-Yield offers agricultural loans and farm mechanization support to bolster cash crop production in the country. Zimbabwe became a net exporter of wheat and maize in 2021 due to the agro-business contribution. As of June 30, 2022, agro-business constituted 51 percent of CBZ Holdings' loan book. Meanwhile, CBZ Holdings cemented a 710 percent year-on-year increase in revenue. IH Securities forecasts that a further rise in CBZ Holdings' revenue will occur because of the salient weather unpredictability, which may increase the need for farm mechanization and agricultural loan. |
AuthorInternational Finance and Energy Consultant, Rebecca Gaskin Gain, J.D. Archives
April 2025
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