CHAIRMAN’S STATEMENT

During the year the Group embarked on a journey of integrating sustainability into the business as a long term value creation business model and comprehensive risk management
strategy.

ECONOMIC OVERVIEW

The Zimbabwe economy is estimated to have grown by 4% in 2018, driven by strong growth in mining, agriculture and construction of 13%, 12% and 8% respectively. While international commodity prices have remained under pressure, performance by the mining sector has been sustained by increased throughput. The downside to the Gross Domestic Product growth was the acute shortage of foreign currency evidenced by parallel currency market premiums and sharp rise in inflation in the last quarter of the year…

FUNCTIONAL CURRENCY

The Group has in previous financial periods used the United States of America Dollar (”US$”) as its presentation and functional currency…

FINANCIAL PERFORMANCE

The business achieved growth in revenue but experienced pressure in operating costs in line with developments in the country, particularly the last quarter of the year.

DIRECTORATE

We continuously endeavour to develop our governance and reflect an ethical and accountable leadership focused on value creation for all stakeholders.

APPRECIATION

Lastly, I would like to thank our customers, regulators, shareholders and other stakeholders for their efforts and support to the Group. I would like to thank fellow board members, management and staff for their unwavering commitment, wise counsel and vision in taking the Group forward.

Oliver Mtasa
Chairman

Related download
FMHL | 2018 Annual report.pdf