On 6 August 2010 the Meikles Limited Board met to consider the offer from Mr N M K Chanakira and his associated companies to purchase the Company's interest in Kingdom Financial Holdings Limited ("KFHL").
In the interests of the Group, the Meikles Limited ("Company", "ML") Board has so far exercised patience and restraint in response to the recent unauthorized "public announcements" of members of the Board of Kingdom Financial Holdings Limited ("KFHL") and persons who are not members of the Board of KFHL. These unauthorized announcements were, amongst other things, made without the permission or prior knowledge of KFHL's sole shareholder ML, or the ML Board. The ML Board can no longer remain silent. The ML Board has now requested the KFHL Board to comply with certain corporate formalities in terms of both the Companies Act and the Banking Act to ensure the de-merger is legally implemented.
As you might be aware, the demerger of Kingdom Meikles is still underway and on our part, Kingdom Financial Holdings Limited (KFHL) is working assiduously to discharge its agreement with the shareholders of Meikles as part of the conditions of the demerger process.
Kingdom Stockbrokers (PVT) Limited - 21 April, 2010
Kingdom Financial Holdings Limited, emerging from a rocky marriage, is now courting local and international equity partners as it seeks to consolidate its position in the financial sector. In first exclusive interview with the media since the demerger from Kingdom Meikles Africa, founder and major shareholder Mr Nigel Chanakira said Kingdom was back on its feet and he was ready to part with a significant portion of his shareholding to pave way for new partners.
NMBZ Holdings Limited advises its shareholders that the Company is engaged in negotiations which, if concluded successfully ,will have an impact on its share price. Shareholders are accordingly advised to exercise caution when dealing with the Company's securities until a further announcement is made.
FBC Holdings Limited has been duly listed on the Zimbabwe Stock Exchange. Speaking at the occasion, Group Chairman, Mr Herbert Nkala said that he was excited at the mutually beneficial business opportunities created by the new group.
Two of Zimbabwe’s tea producing giants Tanganda Tea Company and Southdown Holdings have embarked on a six year outgrower development programme to develop up to three thousand hectares of smallholder farm land into tea.
HARARE, Zimbabwe, October 24, 2014/African Press Organization (APO)/ -- Ms. Antoinette Monsio Sayeh, Director of the International Monetary Fund (IMF) African Department, visited Zimbabwe from October 21-24, 2014, to meet with the Zimbabwean authorities and other stakeholders and to present the Fall 2014 Regional Economic Outlook, on Sub-Saharan Africa (see Press Release No:14/475). At the conclusion of her visit she made the following statement:
HARARE, Zimbabwe, September 30, 2014/African Press Organization (APO)/ -- An International Monetary Fund (IMF) mission led by Mr. Domenico Fanizza visited Harare from September 17 to October 1, 2014 to conduct the third and last review under the Staff Monitored Program (SMP) approved by management in June 2013 and to hold discussions on a 15-month successor SMP. The authorities met all end-June 2014 quantitative targets and structural benchmarks under the program and the mission reached a staff level agreement on policies for a successor SMP. The mission met with Mr. Chinamasa, Minister of Finance and Economic Development, Dr. Sibanda, Chief Secretary to the President's and Cabinet, Dr.
HARARE, Zimbabwe, June 23, 2014/African Press Organization (APO)/ -- On June 18, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Zimbabwe.
HARARE, Zimbabwe, January 12, 2014/African Press Organization (APO)/ -- At the authorities' request, IMF Management has approved a six-month extension of Zimbabwe's Staff Monitored Program (SMP) to allow time for the national authorities to strengthen their policies and deliver on outstanding commitments under the program.
HARARE, Zimbabwe, April 16, 2013/African Press Organization (APO)/ -- The Zimbabwe Multi-Donor Trust Fund (ZimFund) has handed-over the site of Mutare water and sanitation works to the contractor. This project, valued at USD 9.04 million, is the first to be implemented under the Fund's overall USD 29.65 million Urgent Water Supply and Sanitation Rehabilitation Project (UWSSRP), which will also see developments in the municipalities of Chegutu, Chitungwiza, Harare, Kwekwe and Masvingo.
The International Monetary Fund (IMF), which threatened with the "compulsory withdrawal of Zimbabwe" one year ago, yesterday decided to give Harare authorities one last chance to avoid expulsion. The reconciling move by the IMF had come after Zimbabwe had made larger efforts to comply with the Fund's demand during the last year, including down-payments of US$ 16.5 million.