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INTRODUCTION Kingdom Financial Holdings Limited is a Zimbabwe based financial services firm serving its clients in the areas of money equity capital and foreign exchange markets The Company is also involved in investment banking portfolio management company research and advisory services The Holding Company has the following principal subsidiaries - KINGDOM ASSET MANAGEMENT PVT LTD The company manages institutional and private clients funds in order to maximize their returns through portfolio management and unit trusts The company provides services to individuals partnership companies and pension and provident funds THE DISCOUNT COMPANY OF ZIMBABWE LTD The company offers fixed income securities dealings and is heavily involved in local money market government and municipal stocks It also offers research in money and capital markets KINGDOM MERCHANT BANK LTD The company offers broad investment banking and advisory services and seeks to develop and market innovative financial solutions to its prospective client base in areas of corporate banking corporate finance and foreign exchange transactions The Zimbabwe Banking Services Sector has gone through turbulent times since the arrival of the new Governor of the Reserve Bank of Zimbabwe Before his appointment most of the Banks had left their core business and were using depositors money on illegal activities like buying foreign currency in the parallel market Some of these banks even went to the extent of selling local currency to companies and individuals When the new Governor of the Reserve Bank of Zimbabwe Dr Gono announced his monetary policy in December 2003 the whole finance industry was caught unaware resulting in some big players in the industry like Trust Holdings Barbican Holdings Intermarket Holdings Royal Bank and Time Bank falling by the wayside When other companies were being put under judicial management because of liquidity problems Kingdom Financial Holdings Ltd went from strength to strength When liquidity syndrome was about to catch up with Kingdom Financial Holdings the company issued
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