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Business Reporter
Zimre Holdings (ZHL) says it will harness strengths in its new structure and strategic partnerships to drive capacitation of its regional units and expand its footprint in the African continent.
ZHL is a diversified investment holding company with core competencies in the insurance value chain, real estate industry, and wealth management.
The group’s operations span across the southern Africa region, with a presence in Mozambique, Malawi, Zambia, and Botswana. The regional operations are housed under the company Emeritus International, domiciled in Botswana.
ZHL has, over the past five years, consolidated its interests in various business units to regain control of the insurance value chain, wealth management, and property investments.
Mr Stanley Kudenga, the group’s chief executive, said ZHL’s regional business units continue to be key strategic investments, as evidenced by their significant contribution to gross written premium (GPW).
“While the Zimbabwean reinsurance and reassurance operations suffered knocks from tobacco and Covid-19 claims, ZHL’s regional business units continue to be key strategic investments,” he said in a statement of financials.
Since 2021, ZHL has been going through a culture transformation to align the organisational purpose, strategic values and leadership behaviour.
Prior to that, in the period 2016–2020, ZHL moved to recalibrate and reconstruct its organisational structure, seeking to regain or pursue lost control or influence in select small business units and disposing of non-core and non-strategic investments.
Mr Kudenga said that given its proven resilience over the years, the ZHL group WAS focused on growing sustainable value for its stakeholders.
According to the group’s 2022 financials, GPW was $20,4 billion, a 13 percent increase on the back of real business growth in the region and from domestic operations.
The regional operations contributed 43 percent to GPW in 2022, compared to 41 percent in 2021, and thus remain key strategic investments that provide diversification value to the group.
ZHL said going forward, the group will begin a new financial concentration on landmark and infrastructure development with a focus on sustainability.
Mr Kudenga said these activities will be undertaken through its Eagle Real Estate Investment Trust (REIT) to enable both local and international investor participation.
ZHL has since registered a REIT to spearhead value creation and infrastructure development through public and private partnership projects.
Mr Kudenga said diligent updating of products and services enabled the group to remain relevant and served well in buttressing the continued business growth, and the adoption of the ‘Eagle Culture’ has also helped.
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