Masimba Holdings Limited

Climate Impact & Sustainability Data (2014)

Improved Lost Time Injuries to eight (8) from twenty-six (26) in the previous period. Masimba Construction’s Lost Time Injury Frequency Rate (LTIFR) was 1.87.

Established a Remuneration Committee chaired by a non-Executive Director to set executive director remuneration and consider appointments.
Established an Audit and Risk Committee chaired by a non-Executive Director to review financial statements, internal controls, and accounting policies.
Approved a Code of Conduct for all employees.

Short-term Goals:

Resolution of remaining $2,256,575 owed by Government departments in 2015.
Completion of phase one (19 units) of Monavale housing development in 2015.
Significant contribution to turnover in 2015 from telecommunications sector due to government infrastructure expansion.

Deteriorating economic environment in Zimbabwe leading to subdued capital expenditure in both private and public sectors.
Liquidity challenges and persistent downward economic spiral negatively impacting business operations, particularly the Contracting division.
Government's precarious financial situation delaying infrastructure projects.
Fire outbreak at Proplastics' Ardbennie factory interrupting production.

Focus on productivity, cost containment, and cash preservation strategies.
Significant progress made towards resolution of long outstanding debt owed by Government departments (received $3,447,652, optimistic about remaining $2,256,575).
Reduced Group's bank borrowings by $2,066,665 to $1,583,334.
Proplastics focused on product expansion, credit risk management, and cost competitiveness, resulting in improved margins and launch of 400mm HDPE line.
Pursuing strategies to separate Contracting and Manufacturing divisions into two independently managed, separately listed companies to unlock value and attract capital.

Climate Change Data