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In Mazowe, the group is constructing various structures, including trade centers, healthcare facilities, and retail spaces, which the company believes will transform the area. In Victoria Falls, developments are underway on 12 hectares of land
Diversified investment group ZimRe Holdings Ltd (ZimRe) has invested USD 11 million in two signature development projects under the Eagle Real Estate Investment Trust (Eagle REIT).
In Mazowe, the group is constructing various structures, including trade centers, healthcare facilities, and retail spaces, which the company believes will transform the area. In Victoria Falls, developments are underway on 12 hectares of land.
ZimRe chief executive officer Stanley Kudenga said that his company was committed more than USD 11 million towards (these) projects.
ZimRe has investments and operations in Botswana, Malawi, Mozambique, and Zambia, and is headquartered in Zimbabwe. He also highlighted the group’s drive for innovation in its life and pensions businesses. He expressed optimism about the company’s outlook, noting that improved political and economic stability would enable better planning and progress without excessive focus on political and currency risks.
According to the group’s 2023 annual report, profit increased by 321% to ZW$304,9 billion (USD 49,9 million) compared to the same period in the previous year.In inflation-adjusted terms, the group’s insurance contract revenue experienced a remarkable increase of 140%, reaching ZW$255 billion (USD 41,8 million).
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This strong growth was driven by the group’s local reinsurance and pensions business operations, which collectively contributed 78% to the total premiums written during the year, compared to 83% in 2022.
