BULAWAYO - Kingdom Financial Holdings Limited (KFHL) is confident the de-merger of Kingdom Meikles Africa will be completed paving the way for its re-listing on the local bourse. KFHL ,which is emerging from a rocky marriage with Meikles, is courting local and international equity partners as it seeks to consolidate its position in the financial sector.
In an update to shareholders on the progress made so far towards demerger, Lynn Mukonoweshuro, the chief executive officer of KFHL said both Kingdom and Meikles continued to be in regular contact and were in agreement on the need to expeditiously complete the de-merger exercise.
We recognise that you as our staff and other interested stakeholders are keen for the successful completion of the demerger process as well as the eventual re-listing of KFHL.
The boards of Meikles and KFHL are aware of this and are also in agreement on the need to complete this process, she said in apparent attempt to quell anxiety among the companys stakeholders.
Mukonoweshuro said the completion of the de-merger should pave the way for Kingdom managers to re-list its shares on the Zimbabwe Stock Exchange (ZSE) as originally advised to shareholders as part of a wider strategic objective by the Group to expand its local and regional operations and also recapitalise its operations.
KFHL, which has since found its feet at the crux of Zimbabwes financial services sector, is working on an ambitious expansion programme that will see its tentacles spread and expand in Malawi, Botswana and South Africa.
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