zimre Holdings property portfolio in 45% growth

DIVERSIFIED financial services group, Zimre Holdings Limited (ZHL), has recorded a 45 percent growth in rental income from prior year in inflation adjusted terms despite subdued rental growth and increasing commercial property rental voids in the market.

ZHL is a diversified investment holding Company with sustainable core competencies in the insurance value chain, property and wealth management.

The Group has investments and operations in Botswana, Malawi, Mozambique, Zambia and headquartered in Zimbabwe.

In financial results for the year ended 31 December 2022, Zimre chief executive Mr Stanley Kudenga said Ku denga the group has initiated various infrastructure development projects to be housed under the Eagle REIT to diversify the property portfolio and enhance stakeholder value.

“The Group’s investments and wealth management cluster drives the group’s infrastructure and landmark development agenda, as well as creating capacity to drive cashflow growth for the business units,” he noted.

In the report, the firm’s chairman, M Desmond Matete, said the ZHL Group is focused on growing sustainable value for its stakeholders in a turbulent global economy.

The strategy is set to harness the various strengths of its new structure and strategic partnerships to drive capacitation of its regional units and to expand its footprint further into the African continent, he said.

To that end, Mr Matete said the Group will be embarking on a new investment focus towards infrastructure and landmark development with an emphasis on sustainability.

“These activities will be undertaken through its Eagle Real Estate Investment Trust (REIT) to enable both local and international investor participation.”

On its financial performance, the firm said positive topline and bottom-line growth was recorded despite the turbulence and volatility of the various economies it operates in.

“In spite of the significant challenges in the Group’s operating jurisdictions, the Group delivered positive results, benefitting from the resilient performances of its underlying businesses.