Online Reporter
Nelson Gahadza
Business Reporter
First Mutual Holdings Limited is considering buying out its minority shareholders in First Mutual Properties Limited to pave the way for the delisting of the property firm from the Zimbabwe Stock Exchange.
In a cautionary statement, FMHL said it was evaluating and discussing a possible offer to acquire shares held by minority investors in FMP ahead of a proposed voluntary delisting.
The group said the outcome of the discussions could materially affect the price of its securities, prompting it to urge shareholders and the investing public to exercise caution when trading in its stock until a full announcement is made.
“The board of directors of the company wishes to advise shareholders and the investing public that the company is currently engaged in evaluations and/or discussions regarding making an offer to acquire shares held by minority shareholders of First Mutual Properties Limited ahead of the proposed voluntary delisting,” FMHL said.
The move signals a possible restructuring within the First Mutual group, with the parent company seeking to consolidate full ownership of its property unit.
FMHL is a prominent Zimbabwean financial services group with subsidiaries focusing on insurance (life, health, short-term, reinsurance), property, wealth management, and microfinance.
Key subsidiaries include First Mutual Life, First Mutual Health, NicozDiamond Insurance, First Mutual Reinsurance, First Mutual Properties, First Mutual Wealth and First Mutual.
FMP separately, in a recent cautionary statement, confirmed that it was engaged in negotiations and evaluating a potential transaction that could result in its exit from the local bourse.
The company said the discussions were still at an early stage and could have a bearing on the value of its securities.
FMP, formerly Pearl Properties, is one of Zimbabwe’s leading real estate firms, with interests in the development and management of commercial properties in major urban centres.
In the year to December 31, 2025, net property income was US$4,5 million compared to US$4,8 million in 2024, with total revenue at US$8,968 million, while rental income remained the primary revenue source.
Rental collections for the year remained resilient at 80 percent, supported by a healthy average occupancy of 84 percent.
The company said it continues to engage constructively with tenants to resolve outstanding arrears, reinforcing long-term relationships and the sustainability of cash flows.
“In parallel, there has been a heightened focus on tenant and portfolio diversification to strengthen income stability and reduce concentration risk,” FMP said.
