Board changes at Kingdom

Kingdom Financial Holdings Limited (KFHL) is seeking shareholder approval at its forthcoming fifteenth annual general meeting to appoint new directors in order to accommodate representatives of AfrAsia Bank Limited (ABL).

The Mauritian-based banking group recently acquired a 35% stake in KFHL in a $9,5 million deal.

The deal enabled KFHL to meet the Reserve Bank of Zimbabwe (RBZ) minimum capital requirements of $12,5 million for commercial banks.

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