2008 Top Company Survey Awards

Companies within our newly formed Group recently won the 2008 Top Company Survey Award (Kingdom Bank Financial Holdings Limited), the Banking Sector Winner (Kingdom Bank Financial Holdings Limited), the Agro-Processing Sector Winner (Tanganda Limited) and the Retail and Distribution Sector Winner (Meikles Africa Limited).

Every year this impartial third party survey of listed companies in Zimbabwe is carried out by prominent members of the financial community. Subjective and objective criteria are applied to Zimbabwe's listed companies to determine the "winners" of various categories. This annual review, carried out for many years now, seeks to reward excellence in a number of areas which prima facie would suggest that the businesses awarded with prizes are the most successful and therefore sustainable. A brief review of the awards over the past 10 years show that many awardees have fallen by the wayside for various reasons, which, most commonly, include the adoption of unsustainable business practices.

From my perspective, through the awards we receive, the investment community's recognition of the efforts that we have put into creating the new KML Group and the excellence of their constituent parts is an important part of cementing our new identity (both from within and externally) and communicating our long term investment case. Our philosophy within KML currently is to continue investing for the long term and I feel that the appraisal criteria for 2009's top companies awards recognise more prominently companies' long term performance and sustainability practices. After all it’s only those companies that can see the future that will survive in the long run. Once again the KML Group will look forward to participating!

Nigel Chanakira

Inaugural CEO Blog

How does a listed company keep its shareholders updated of developments in a hyperinflationary environment? This pertinent issue was raised in our Group's inaugural analyst presentation and I have to agree that presenting quantitative results within 3 months of the reporting period has limited value.

The challenge has been heightened firstly by the complex process of aligning the interests of our merged entities into a single investment story; secondly the need to service the information needs of a growing base of foreign investors and lastly to communicate the diverse range of strategic initiatives throughout the Group. Our new investor relations website hopefully provides all that you need. But back to the point regarding updates on your Group's progress.

My personal communication style has always been open door and will continue to be so in addressing the non-material information needs of our stakeholders. I see the best way to do this is through this CEO Blog platform. It's effective, direct, easy to read and understand and accessible to many. I have also provided the approval for the release of a quarterly newsletter called the KMAL Group Pulse which is in essence a group "fact sheet" but a little more dynamic in that its content will be updated with interesting non-material information on the initiatives within our Group.

Before I sign off, a quick note on the current challenges facing Zimbabwe and my view on them. Zimbabwe has a long term future and I am reminded of and motivated by the following quote in our quest to not only survive, but thrive in the current period of uncertainty:-

"… companies can survive and prosper, even in the face of short term disappointments, provided they communicate their long-term value proposition – and their capacity to deliver on it – in a clear, consistent and compelling way"

Corporate Board Member

So what's KMAL's value proposition to investors? In the short term it is using critical mass and our diverse investment base to strategic advantage in a very challenging environment. Yes this does sound like a cliché but it is necessary in order to deliver on our long term objective which is to deliver growth and real shareholder value from investments not only in Zimbabwe but regionally.

I look forward your feedback and urge you to use our website MeiklesAfrica.co.zw should you need to know more.

Nigel