Chairman’s Statement
The Economy
The economy continues to weaken due to illiquidity, deflation and declining local industry competitiveness. The changes in the monetary and currency policy boosted activity on the Zimbabwe Stock Exchange however the impact on the operating environment is yet to be fully realised…
The Property Market
The real estate market remained subdued as reflected by the fact that only 1.60% of bank credit issued in the market was absorbed by the construction industry…
Corporate Social Responsibility
Through the First Mutual Foundation, the Group continues to support selected children throughout the country with educational assistance as well as supporting tertiary education…
Dividend
At a meeting held on 6 March 2017, the Board resolved that a final dividend of US0.059 cents per share be declared from the profits for the year ended 31 December 2016. The dividend will be payable on or about 28 April 2017 to all shareholders of the Company registered at close of business on 7 April 2017. The shares of the Company will be traded cum-dividend on the Zimbabwe Stock Exchange up to 31 March 2017 and ex-dividend as from 3 April 2017…
Outlook
Performance of the real estate market is dependent on performance of other economic fundamentals. In the short to medium term, the prospects for growth are minimal due to the weakening economy…
Acknowledgements
On behalf of the Board, I wish to thank our clients, staff, management and all other stakeholders for their invaluable support.
Elisha K. Moyo
Chairman
6 March 2017
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