A graduate of Emory University School of Law, Rebecca Gaskin Gain is an accomplished senior executive who has had a longstanding career in the legal and financial industries. During the course of her work she has served as the lead transaction advisor on multiple energy initiatives in Africa, where she developed strategies to overcome environmental and financial challenges. Rebecca Gaskin Gain now leverages her expertise to serve as an independent non-executive director for CBZ Holdings.
CBZ Holdings bought 31 percent of FMHL stock held by the Zimbabwean pension fund NSSA. Prior to the transaction, the National Social Security Association (NSSA) held 66.22 percent of FMHL’s stock. NSSA needed to reduce its stake in FMHL to comply with the regulations of the Zimbabwean Insurance and Pension Commission (IPEC) and the Zimbabwe Stock Exchange (ZSE). Due to the transaction, NSSA holds 35 percent of FMHL’s stock, which conforms to both IPEC and ZSE's standards. CBZ Holdings emerged as the highest bidder among the seven entities that offered to acquire FML stock from NSSA in 2021. NSSA and CBZ have closed deals multiple times in the past. In 2020, NSSA sold a 37.79 percent stake in ZB Financial Holdings to augment its stake in CBZ by 2.15 percent.
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An attorney and financial professional, Rebecca Gaskin Gain has worked with African governments to empower the continent economically. As an independent non-executive director at Zimbabwe-based CBZ Holdings, Rebecca Gaskin Gain took part in the acquisition deal involving First Mutual Holdings Limited.
The CBZ Holdings Limited (CBZH) deal with First Mutual Holdings Limited (FMHL) involves the former purchasing a 31.22 percent stake in the latter in November 2021. The meeting to complete the transaction took place on January 31, 2022. When completed, the total amount of the acquisition was $6.356 billion. The deal also culminated in the shares acquired comprising 8.23 percent of CBZHL’s total shares. According to a January 2022 press release, the CBZHL board approved the deal because it offers an investment in the financial institution’s future as a market leader. An FMHL study revealed that the two institutions had a natural fit. Both businesses have experienced growth, CBZHL is on the verge of market domination, and like-minded perspectives have the potential to execute their long-term business strategy. Rebecca Gaskin Gain, an attorney and financial professional, serves as a non-executive director with CBZ Holdings, Zimbabwe’s premier banking institution. Rebecca Gaskin Gain is involved with the institution's board of directors in this role.
In June 2022, CBZ Holdings announced its intention to invest two percent of its income in green projects, the first-time promise for a southern African nation. CBZ Holdings is the largest financial services provider in Zimbabwe, ahead of Barclays, FCB, and Stanbic. In terms of income, the bank reached $16.16 billion as of June 2022. In the announcement, the lender expects its plan to move toward environmental accountability in 2022. One of the green projects the institution plans to fund is residential solar across the country. The move can address power shortfalls and outages the country experiences, which require them to import electricity from other countries. Another green project involves investing in carbon credits to establish its presence in the environmental, social, and governance space. |
AuthorInternational Finance and Energy Consultant, Rebecca Gaskin Gain, J.D. Archives
April 2025
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