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Outlook
The economies in presence countries continue to grow at a reasonable pace. We anticipate the business environment to continue being challenging in Zimbabwe but the Group’s subsidiary in that market is expected to remain profi table despite the expected slow-down in business. We are determined to arrest the increase in non-performing loans within the Group and to this end, a special team comprising of senior members of staff that have several years of experience in successfully collecting on defaulting loans, has been set-up to deal with this challenge. Liquidity and capital management will remain key focus areas to ensure that the business can grow at a sustainable pace with all subsidiaries being adequately capitalised. Whilst the fi rst half has been challenging we are cautiously optimistic that the second half results will show an improvement.

HY 2014 financial results

 
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