RioZim Limited (RIOZ.zw) HY2019 Interim Report

We have extracted the Chairman’s Statement from the 2019 half year report for RioZim Limited (RIOZ.zw), listed on the Zimbabwe Stock Exchange:

INTRODUCTION

It is my honour to present to you the Company’s 2019 interim financial results as the new Chairman of the RioZim Board. The regulatory pronouncements made in the current year have had a negative impact on the performance of the Company during the period under review. It is my hope that I will build on the foundations laid by my predecessor to take the Company to greater heights.

From the introduction of a local currency to the various economic stabilisation policies implemented by the Government, 2019 has proven thus far to be a complex year for not only RioZim Limited but the nation at large. Notwithstanding all these developments, RioZim Limited has been able to, at great costs, withstand the various economic challenges and remain a viable commercial enterprise and it is under this backdrop of unprecedented challenges that I present to you the Company’s half year results for the period ending 30 June 2019. It is important to note that in accordance with SI 142 issued by the Government of Zimbabwe, the Company has adopted the Zimbab