Zimre Holdings Limited is banking on real estate and infrastructure-led growth to cement its position as one of Southern Africa’s diversified financial services leaders, with its Eagle Real Estate Investment Trust emerging as a cornerstone of its future strategy.
Board chairman Desmond Matete said the REIT, listed on the Victoria Falls Stock Exchange earlier this year, underpins Zimre’s ambition to channel capital into large-scale projects in Mazowe and Victoria Falls.
The projects will focus on sustainable construction, hospitality, and medical facilities, with the goal of attracting world-class brands and generating jobs.
“The REIT will bring international standards through partnerships with globally acclaimed brands aimed at rejuvenating the country’s tourism and hospitality industry as well as medical facilities.
"These developments are not only designed to reduce environmental impact but also to stimulate economic growth in surrounding communities,” Matete said.
The strategic pivot comes on the back of solid financial performance in the first half of the year.
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ZHL reported a 37% jump in profit to US$9.33m, while total income rose 20% to US$51.59m, driven by growth in insurance contract revenue and fair value gains from equities and property investments.
Total assets closed the period at US$242.65m, up 17%.
Insurance remains the backbone of the business, with contract revenue climbing 28% year-on-year to US$40.31m, supported by product diversification and stronger market penetration across Zimbabwe and the wider SADC region.
All business units reported profits except for the Wealth Management cluster.
Cash generation also proved resilient, with US$10.36m produced from operations. The cash-to-profit ratio ended at 1.11 times, slightly below the 1.5 times benchmark but showing operational strength in a constrained liquidity environment.
Matete said the group remains confident despite a mixed macroeconomic outlook.
“The REIT’s agility to adapt and innovate allows it to absorb potential shocks while continuing to provide growth and security for shareholders and stakeholders,” he noted.
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