Zimre Holdings plans to expand into North Africa next year, among other expansion goals. The financial services company will start raising money in the second quarter of 2025 to strengthen Emeritus Re for these plans. They recently combined two Botswana reinsurance businesses and invested $2 million in their Mozambique branch.
CEO Stanley Kudenga said the firm wants more revenue, business consolidation, and new acquisitions. Their strategy focuses on a bigger African presence and better data management. The company already operates in Ivory Coast and wants to add insurance broking and microfinance services in Mozambique. They also run asset management in Malawi.
Insurance income reached $61.86 million last year, compared to $50 million previously. Most came from reinsurance, which accounted for 78 percent of revenue. The company earned a $10.33 million profit after taxes. Their Mozambique business grew 54 percent after receiving new money, and Botswana operations jumped 38 percent following the merger's completion.
CFO Zvenyika Zvenyika said North and Central African expansion will help total earnings. Their life insurance branch increased 45 percent through new product development. Kudenga mentioned that Eagle Reit will help raise funds for growth and infrastructure projects. Phase one of Mazowe Walk stands ready for tenants, with phase two finishing in late 2025.
CEO Stanley Kudenga said the firm wants more revenue, business consolidation, and new acquisitions. Their strategy focuses on a bigger African presence and better data management. The company already operates in Ivory Coast and wants to add insurance broking and microfinance services in Mozambique. They also run asset management in Malawi.
Insurance income reached $61.86 million last year, compared to $50 million previously. Most came from reinsurance, which accounted for 78 percent of revenue. The company earned a $10.33 million profit after taxes. Their Mozambique business grew 54 percent after receiving new money, and Botswana operations jumped 38 percent following the merger's completion.
CFO Zvenyika Zvenyika said North and Central African expansion will help total earnings. Their life insurance branch increased 45 percent through new product development. Kudenga mentioned that Eagle Reit will help raise funds for growth and infrastructure projects. Phase one of Mazowe Walk stands ready for tenants, with phase two finishing in late 2025.
