TABLE OF CO TE TS
ABC Holdings Limited comprises financial ser.vices operations i!L.!Wtswana,_Zlmbabwe _ Zambia, Mozambique, Tanzania and M~ ABCH
D RECTORATE D AGEME T From left 10 right: MJMbaakanyi, TC Barry, OM Chidawu, Dr RWHug(Chairman), DT Munatsi, Missing: CDde Neer
GROUP COMP lIES DIREC ORATE AFRJ ' B.\1KI 'G CORPORATIO I iTERl 'ATIO 'AL LI flTHD o M Chidawu M Mbaakanyi (Chairman) R S Burge
GROUP COMP lIES D RECTORAT AFRICAN 8 KI G CORPOR\TIO OF ZAMBIA LI IlTED . Dr 1 P Kipokola (Chairman) OM Chidawu 1 Chola Kudenga
PROFILE OF ME BERS OF THE BOARD OF DIRECTORS R Hug (Chairman) L1.BPhD, BA S\\iss Dr Rudolf Hug was born in Switzerland in 1944.
PROFILE OF MEMBERS OF THE BOARD OF DIRECTORS DT Iunatsi BBS, MBA, AIB Zimbabwean Douglas Munatsi, ABCH's Group Chief Executive
PROFILE OF EXECUTIVE AGEME Douglas T Munatsi BBS, MBA,AIB Zimbabwean Douglas, ABCH's Group Chief Executive Officer, holds an MB
PROFILE OF EXECUTIVE MANAGEMENT KojoParris M.A, M.Eng (Cambridge) Guyanese Kojo is ABCH's Head of Investment Banking and has an
CORPORATE GOVERNANC The Group aims to comply with the provisions of the Code of Best Practice as recommended by the Cadbury Com
CORPORATE GOVERNANC Meetings are held regularly throughout the year and are attended by the external and internal auditors and
RISK MANAGEMEN The Board of Directors has ultimate responsibility for any financial loss or reduction in shareholder value suff
RISK MANAGEMEN traditional gap analysis. The Group ha;> chosen to implement a conservative policy in order to limit its interes
CHAIRMAN'S STATEMENT The year 2001 was characterized bymarked slowdown in activityin almost all regions of the world. Prospects
CHAI STATEME T It is envisaged thatABCI will be fully operational in the first quarter of 2002. It is anticipated that revenue
CHAIRMAN'S STATEMENT various funds. We expect an equity pull back in 2002, while interest rates are not expected to rise sharpl
CHAIRMAN'S STATEMENT CO. "TRYECO.OMICE BOTS ANA MRO. ME.·T worth US$1.5 billion approved during the first nine months of the ye
CHAIRMAN'S STATEMENT Zimbabwe and its trading partners during the year, the Zimbabwe dollar was kept fixed at 55/US$. This, how
CHAIRMAN'S STATEME T The year has been eventful and a number of milestones achieved. We would like to take this opportunity to
CHIEF EXECUTIVE OFFICER'S REPORT The year 2001 was difficult but eventful and important for the strategic alignment of the Afri
CHIEF EXECUTIVE OFFICER'S REPORT The efficiency ratio as measured by the cost to income ratio of 41.8% is slightly higher than
ClEF EXECUTIVE OF ICER'S REPORT sector has benefited immensely from the reduction of interest rates in Zimbabwe. However unavai
CHIEF EXECUTIVE OFFICER'S REPORT 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 sizing the staff compliment as well
CHIEF EXECUTIVE OFFICER'S REPORT expected once balance of payments support is obtained. Application for merchant bank licences
REPORT OF THE DIRECTORS We have pleasure in presenting to shareholders year ended 31 December 2001. our report and the audited
Gaborone Office Mail Address PO Box 1519 Telephone +267 312 400 Plot 50364B Fairground Botswana Park Telefax +267 375 281 www.k
A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 CONSOLIDATED INCOME STATEMENT for the year ended 31 December 2001 Inflation Adjusted
A B C HOLDINGS LIMITED ANNUAL REPORT 200 I CONSOLIDATED BALANCE SHEET as at 31 December 2001 ASSETS NOTES Inflation Adjusted Re
COMPANY BALANCE SHEET as at 31 December 2001 Historical Cost Restated 2001 US$OOOs 2000 US$OOOs Investments in subsidiaries Goo
for the year ended 31 December 2001 2001 2001 2000 2000 US$OOOs US$OOOs US$OOOs US$OOOs Non cash flow items Depreciation Proper
for the year ended 31 December 2001 (continued) Inflation Adjusted Historical Cost 2001 uS$OOOs Net (decrease )/increase in cas
A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 STATEMENT OF CHANGES IN EQUIlY for the year ended 31 December 2001 Share Capital INF
for the year ended 31 December 2001 The Company is incorporated in Botswana and is an investment holding company with its main
for the year ended 31 December 2001 (continued) The consolidated financial statements comprise the financial statements of the
for the year ended 31 December 2001 (continued) Foreign currency transactions are translated at the foreign exchange rates ruli
for the year ended 31 December 2001 (continued) The Group recognises all purchases and sales of investment securities at trade
for the year ended 31 December 2001 (continued) The recoverable amount of other assets is the greater of their net selling pric
for the year ended 31 December 2001 (continued) Goodwill arising on acquisition represents the excess of the cost of acquisitio
A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2001 (continued) In
for the year ended 31 December 2001 (continued) Inflation Adjusted 2001 US$OOOs 8 OTHF,R 'COME Commission receivable Factoring
for the year ended 31 December 2001 (continued) Inflation Adjusted Historical Cost 2001 US$OOOs II. SIt-\RE OF ASSOCIATE PROFIT
for the year ended 31 December 2001 (continued) The basic earnings/(loss) per share of US$ 0.45 cents (2000: US$ -4 cents) is b
for the year ended 31 December 2001 (continued) The headline earnings per share of US$ 0.45 cents (2000: US$ 5 cents) is based
A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2001 (continued) In
for the year ended 31 December 2001 (continued) Inflation Adjusted Historical Cost 2001 US$OOOs Ill. 01 'G SEC RI 2000 US$OOOs
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2001 (continued) Inflation 2001 uS$OOOs Foreign drafts Maturit
A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2001 (continued) In
for the year ended 31 December 2001 (continued) 20. PROPERlY 'D EQLIP lENT Freehold Land & Buildings US$ ODD's Motor Vehicles &
for the year ended 31 December 2001 (continued) 2001 2000 2001 2000 US$OOOs US$OOOs US$OOOs US$OOOs Cost Balance Prior year adj
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2001 (continued) On the adoption of !AS 39 on 1January 2001, a
for the year ended 31 December 2001 (continued)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2001 (continued) 2001 2000 2001 2000 US$OOOs US$OOOs US$OOOs U
for the year ended 31 December 2001 (continued) Staff Pension Fund There are no pension fund arrangements in Botswana. Severanc
for the year ended 31 December 2001 (continued) International Accounting Standard 21 requires that all investments in foreign s
for the year ended 31 December 2001 (continued) Credit risk is the risk of loss due to the inability or unwillingness of a clie
for the year ended 31 December 2001 (continued) INTEREST RATE RISK - Historical At 31 December 2001 cost Up to 1 month US$OOO's
for the year ended 31 December 2001 (continued) 35.3 LIQUIDIlY RISK The analysis of assets and liabilities of the Group into re
for the year ended 31 December 2001 (continued) LIQUlDIlY RISK - Historical At 31 December 2001 Up to 1 month US$OOO's ASSETS C
for the year ended 31 December 2001 (continued) 35.4 CURRENCY RISK Currency risk is the risk of adverse movements in exchange r
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2001 (continued) CURRENCY RISK - Historical At 31 December 200
AFRICAN BANKING CORPORATION GROUP STRUCTURE ABC Holdings Limited Primary Listing (Botswana) ABC Holdings Limited Secondary List
THREE YEAR FINANCIAL SUMMARY - HISTORICAL COST 2001 US$ Ooo's 2000 US$Ooo's Pro-Formll 1999 US$'OOO's NetinterestincoDle Net lo
THREE YEAR FINANCIAL SUMMARY - HISTORICAL COST (Continued) 2001 US$ooO's Shareholders funds Minority interest Deposits Repurcha
THREE YEAR FINANCIAL SUMMARY - HISTORICAL COST (Continued) Selected Ratios and Statistics 2001 Closing number of shares Closing
FINANCIAL SERVICES The Investment Banking division is committed to: • • Providing a top quality and professional level of servi
I CIAL SERVICES The Corporate Banking division has a highly motivated and professional staff with a wealth of market experience
ANALYSIS OF SHAREHOLDERS SHAREHOLDt 'G 0-100 101 - 200 201 - 500 501 - 1 000 1 001 - 5000 5001 - 10000 10001 - 50000 50001 - 10
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DETAI S OF SPECIAL BUSINESS TO BE diversified and therefore the non-Zimbabwean subsidiaries need to be strengthened so that the
DETAILS OF SPECIAL BUSINESS TO BE conversion, less a maxim~ • discount of 10%j, funding projects for certain which are socially
DETAILS OF S ECIAL BUSINESS TO BE • The Company has undertaken to provide each Investor with quarterly and annual financial rep
AFRICAN BANKING CORPORATION Incorporated in the Republic of Botswana on the I" December 1999 Registration number: 99/4865 For u
-. _ . ~.••.•. :. ,.- .-r•.' ._! _r ::i; •• :!, . Number of ordinary For Ordinary Resolution 1 Ordinary Resolution 2 Ordinary R
AFRICAN BANKING CORPORATION
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TABLE OF
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ABC Holdings Limited comprises financial ser.vices operations i
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D RECTORATE D AGEME T From left 10 right: MJMbaakanyi, TC Barry
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GROUP COMP lIES DIREC ORATE AFRJ ' B.\1KI 'G CORPORATIO I iTERl
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GROUP COMP lIES D RECTORAT AFRICAN 8 KI G CORPOR\TIO OF ZAMBIA
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PROFILE OF ME BERS OF THE BOARD OF DIRECTORS R Hug (Chairman) L
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PROFILE OF MEMBERS OF THE BOARD OF DIRECTORS DT Iunatsi BBS, MB
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PROFILE OF EXECUTIVE AGEME Douglas T Munatsi BBS, MBA,AIB Zimba
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PROFILE OF EXECUTIVE MANAGEMENT KojoParris M.A, M.Eng (Cambridg
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CORPORATE GOVERNANC The Group aims to comply with the provision
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CORPORATE GOVERNANC Meetings are held regularly throughout the
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RISK MANAGEMEN The Board of Directors has ultimate responsibili
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RISK MANAGEMEN traditional gap analysis. The Group ha;> chosen
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CHAIRMAN'S STATEMENT The year 2001 was characterized bymarked s
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CHAI STATEME T It is envisaged thatABCI will be fully operation
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CHAIRMAN'S STATEMENT various funds. We expect an equity pull ba
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CHAIRMAN'S STATEMENT CO. "TRYECO.OMICE BOTS ANA MRO. ME.·T wort
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CHAIRMAN'S STATEMENT Zimbabwe and its trading partners during t
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CHAIRMAN'S STATEME T The year has been eventful and a number of
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CHIEF EXECUTIVE OFFICER'S REPORT The year 2001 was difficult bu
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CHIEF EXECUTIVE OFFICER'S REPORT The efficiency ratio as measur
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ClEF EXECUTIVE OF ICER'S REPORT sector has benefited immensely
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CHIEF EXECUTIVE OFFICER'S REPORT 18,000 16,000 14,000 12,000 10
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CHIEF EXECUTIVE OFFICER'S REPORT expected once balance of payme
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REPORT OF THE DIRECTORS We have pleasure in presenting to share
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Gaborone Office Mail Address PO Box 1519 Telephone +267 312 400
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A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 CONSOLIDATED INCOME
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A B C HOLDINGS LIMITED ANNUAL REPORT 200 I CONSOLIDATED BALANCE
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COMPANY BALANCE SHEET as at 31 December 2001 Historical Cost Re
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for the year ended 31 December 2001 2001 2001 2000 2000 US$OOOs
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for the year ended 31 December 2001 (continued) Inflation Adjus
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A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 STATEMENT OF CHANGES
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for the year ended 31 December 2001 The Company is incorporated
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for the year ended 31 December 2001 (continued) The consolidate
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for the year ended 31 December 2001 (continued) Foreign currenc
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for the year ended 31 December 2001 (continued) The Group recog
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for the year ended 31 December 2001 (continued) The recoverable
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for the year ended 31 December 2001 (continued) Goodwill arisin
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A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 NOTES TO THE FINANCI
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for the year ended 31 December 2001 (continued) Inflation Adjus
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for the year ended 31 December 2001 (continued) Inflation Adjus
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for the year ended 31 December 2001 (continued) The basic earni
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for the year ended 31 December 2001 (continued) The headline ea
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A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 NOTES TO THE FINANCI
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for the year ended 31 December 2001 (continued) Inflation Adjus
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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Decembe
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A B C HOLDINGS LIMITED ANNUAL REPORT 200 1 NOTES TO THE FINANCI
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for the year ended 31 December 2001 (continued) 20. PROPERlY 'D
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for the year ended 31 December 2001 (continued) 2001 2000 2001
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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Decembe
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for the year ended 31 D
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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Decembe
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for the year ended 31 December 2001 (continued) Staff Pension F
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for the year ended 31 December 2001 (continued) International A
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for the year ended 31 December 2001 (continued) Credit risk is
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for the year ended 31 December 2001 (continued) INTEREST RATE R
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for the year ended 31 December 2001 (continued) 35.3 LIQUIDIlY
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for the year ended 31 December 2001 (continued) LIQUlDIlY RISK
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for the year ended 31 December 2001 (continued) 35.4 CURRENCY R
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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Decembe
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AFRICAN BANKING CORPORATION GROUP STRUCTURE ABC Holdings Limite
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THREE YEAR FINANCIAL SUMMARY - HISTORICAL COST 2001 US$ Ooo's 2
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THREE YEAR FINANCIAL SUMMARY - HISTORICAL COST (Continued) 2001
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THREE YEAR FINANCIAL SUMMARY - HISTORICAL COST (Continued) Sele
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FINANCIAL SERVICES The Investment Banking division is committed
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I CIAL SERVICES The Corporate Banking division has a highly mot
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ANALYSIS OF SHAREHOLDERS SHAREHOLDt 'G 0-100 101 - 200 201 - 50
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DETAI S OF SPECIAL BUSINESS TO BE diversified and therefore the
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DETAILS OF SPECIAL BUSINESS TO BE conversion, less a maxim~ • d
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DETAILS OF S ECIAL BUSINESS TO BE • The Company has undertaken
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AFRICAN BANKING CORPORATION Incorporated in the Republic of Bot
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-. _ . ~.••.•. :. ,.- .-r•.' ._! _r ::i; •• :!, . Number of ord
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AFRICAN BANKI
African Annual Reports
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