Product Innovation Charter
1. EXECUTIVE SUMMARY
Company background
Kingdom Financial Holdings was founded in 1995 when its founder members established Kingdom Securities Limited, Kingdom Asset Management and Kingdom Asset management all duly registered as a discount house, asset manager and member of the Zimbabwe Stock Exchange respectively. In 1997 Kingdom Bank Limited and Kingdom Asset Management were registered as an Accepting House and Manager of Collective Investment Schemes respectively. In 1999, Kingdom Financial Holdings merged with Discount Company of Zimbabwe Holdings Limited resulting in the reverse listing of the Group on the Zimbabwe Stock Exchange and changed its name to Kingdom Financial Holdings while Meikles Africa Limited acquired 25% of its issued share capital. In 2000, Kingdom Bank Limited converted its merchant banking license to a commercial bank. In 2000, Kingdom Financial Holdings was voted the top company on the Zimbabwe Stock Exchange. The following year the Company initiated its regional expansion strategy through the acquisition of 25% equity stake in Investrust Merchant in Zambia, an investment which was sold in 2004.
In 2002, Kingdom Financial Holdings was involved in the formation of FDH Limited (Malawi) where it held a 25.1% stake. In the same year Kingdom bank Africa Limited was licenced by Bank of Botswana while Kingdom Financial Holdings also implemented a Z$1.5billion rights offer required to fund the expansion strategy and launched microfinance operations through Microking. In 2005, the company implemented the second rights offer to raise Z$100 billion and a third one for Z$1,5 trillion the following year to support its expansion strategy. In 2006 Kingdom Financial Holdings increased its stake in First Discount House, Malawi to 40.16%. The following year, Kingdom Financial Holdings merged with Meikles Africa Limited, Tanganda Tea Company Limited and Cotton Printers (Private) Limited to create the largest conglomerate on the Zimbabwe Stock Exchange,
Company background
Kingdom Financial Holdings was founded in 1995 when its founder members established Kingdom Securities Limited, Kingdom Asset Management and Kingdom Asset management all duly registered as a discount house, asset manager and member of the Zimbabwe Stock Exchange respectively. In 1997 Kingdom Bank Limited and Kingdom Asset Management were registered as an Accepting House and Manager of Collective Investment Schemes respectively. In 1999, Kingdom Financial Holdings merged with Discount Company of Zimbabwe Holdings Limited resulting in the reverse listing of the Group on the Zimbabwe Stock Exchange and changed its name to Kingdom Financial Holdings while Meikles Africa Limited acquired 25% of its issued share capital. In 2000, Kingdom Bank Limited converted its merchant banking license to a commercial bank. In 2000, Kingdom Financial Holdings was voted the top company on the Zimbabwe Stock Exchange. The following year the Company initiated its regional expansion strategy through the acquisition of 25% equity stake in Investrust Merchant in Zambia, an investment which was sold in 2004.
In 2002, Kingdom Financial Holdings was involved in the formation of FDH Limited (Malawi) where it held a 25.1% stake. In the same year Kingdom bank Africa Limited was licenced by Bank of Botswana while Kingdom Financial Holdings also implemented a Z$1.5billion rights offer required to fund the expansion strategy and launched microfinance operations through Microking. In 2005, the company implemented the second rights offer to raise Z$100 billion and a third one for Z$1,5 trillion the following year to support its expansion strategy. In 2006 Kingdom Financial Holdings increased its stake in First Discount House, Malawi to 40.16%. The following year, Kingdom Financial Holdings merged with Meikles Africa Limited, Tanganda Tea Company Limited and Cotton Printers (Private) Limited to create the largest conglomerate on the Zimbabwe Stock Exchange,