Mashonaland Holdings Limited
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| Industry | Property |
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Mashonaland Holdings Limited is a Zimbabwean company listed on the Zimbabwe Stock Exchange. The company focuses on Property investment and development within Zimbabwe with a focus on delivery of quality commercial, industrial, retail, specialised and residential accommodation to its clients whilst sustaining and maintaining a firm asset base for its shareholders.
History
Mashonaland Holdings was incorporated in July 1966 with the Mashonaland & Provincial Trust Company (Pvt) Ltd and Mashonaland Real Estate (Pvt) Ltd forming the original structure, and other early acquisitions included complementary construction and development companies, including the brickfields west of Harare now operated by Willdale Limited. Much of the Greystone Park flat and housing development was undertaken at that time by Mash. In 1969 Mash become the first property company to be listed on the Zimbabwe Stock Exchange.
Subsequently, the group expanded into the industrial sector with the emphasis on import substitution in the light engineering businesses. Its new factory complex and head offices were built in Graniteside in the early 1980’s. Trading concerns in the hardware, electrical and the motor spares sectors were added to the portfolio. At its peak in the 1990’s the diversified conglomerate employed almost 5 000 staff including those at the brickfields in Harare and Gweru.
In 1987 Mashonaland Holdings acquired land at Ruwa which it transformed into the Ruwa Growth Point. The brainchild of the then chairman, Mr T C Hardy, a satellite town east of Harare was established, incorporating industrial and commercial stands, as well as large residential areas for low, medium and high-density housing. All the infrastructure and many of the factories and houses were built by Mash.
In the early 2000’s the decision was taken to rationalize the groups operations. Two major un-bundling exercises were undertaken. The electrical and light engineering manufacturing businesses, along with various trading operations, were incorporated into Powerspeed Limited which was then listed as a public company on the ZSE. Similarly, the brickmaking operations were listed under Willdale Limited. Following these de-mergers, Mash was left with a core of properties into which the then major shareholders and other interested parties reversed their own property portfolios in order to establish, by way of a rights offer, the “new Mash” in October 2003.
Thus the company returned to its original core business. It is now a fully fledged property investment and development company with its headquarters in ZB Life Towers in central Harare.
MISSION STATEMENT
Vision
TO BE THE FOREMOST PROPERTY INVESTMENT AND DEVELOPMENT COMPANY IN THE REGION.
Mission
TO BUILD STAKEHOLDER RETURN BY DELIVERING VALUE SOLUTIONS.
Values
- INTEGRITY
- INNOVATION
- ENTREPRENEURSHIP
- TEAM-WORK
- FAIRNESS
The purpose of the Mashonaland Holdings is to earn money for its shareholders and increase the value of their investment. We will do that through growing the company, controlling assets and properly structuring the balance sheet, thereby increasing EPS, cash flow, and return on invested capital.
Services
Property Management
The company maintains it's own in-house management division responsible for the letting and maintenance of owned properties.This provides tenants with a direct landlord-tenant link and enables the company to ensure properties are maintained in line with company policy to provide quality accommodation to its clients.
Property Research & Development
The company has it's own property research and development division responsible for sourcing potential investment and development opportunities for acquisition. Cognisance is taken of ever-changing market trends and requirements by clients for affordable quality accommodation. Added to this is the requirement of shareholders for a fair return on their investment. The division strives to maintain a balance in the company's portfolio mix.
Finance & Company Secretariat
The finance division is responsible for maintaining the company accounts inline with prevailing financial accounting standards for public companies together with operating within all statute regulations laid down by law. It invests funds in approved instruments and acquires properties to enhance shareholders investment in the company. The company secretariat division is responsible for maintaining shareholder information and complying with laid down company statutes to ensure the smooth running of the Board and associate companies
Social Responsibility
Mashonaland Holdings believes that business depends on the society in which it operates and therefore has a responsibility to support the wider community in one form or another outside the company’s normal sphere of operational activity.
Accordingly, the company has continued its major sponsorship of the Vocal and Instrumental Festival of the National Institute of Allied Arts, or “The Eistedfodd” as it is more popularly known. Entrants are drawn from junior and senior schools throughout the country. International adjudicators from overseas have praised the high standard of achievement throughout the festival which reflects well not only on the students but the standard of teaching in Zimbabwe.
Mashonaland Holdings also participates in the Africa Unity Square Enhancement Programme along with other property stakeholders surrounding Harare’s most historic square at the heart of the city.
