Introduction ABC Holdings Limited is listed on the Botswana and Zimbabwe Stock exchanges and is the holding company of the Afri
Group Financial Highlights Five-year financial highlights on a historical cost basis 31 Dec 06 US$ ’000s INCOME STATEMENT Net in
Net asset value per share 2.1 2.0 1.6 1.5 1.3 THEBE 1.0 1.5 1.6 0.5 0 2002 2003 2004 2005 2006 Total assets 3,000 2,500 BWP MIL
Chairman’s Statement Global environment The world economy continued to grow strongly recovering from a growth rate of 4,3% in 2
Chairman’s Statement (continued) The rate of inflation closed the 2006 year at 6,7% up from 5,9% in 2005 largely due to food infl
Directorate and Group Management ABC Holdings Limited - Board of Directors Chairman Non-Executive Directors Mr O M Chidawu Mr H
Directorate CHIDAWU, Oliver M. (Zimbabwean) - Chairman Oliver Chidawu is Chairman of the ABC Holdings Board. Born in Zimbabwe i
WASMUS, Johannes (Dutch) Hans Wasmus was born in Holland in 1941. He holds a diploma in accountancy from the Netherlands Instit
Group Companies Directorate African Banking Corporation of Botswana Limited Chairperson D Khama J Kurian D Moremi T Mothibatsel
African Banking Corporation Zimbabwe Limited Chairman N Kudenga H Brits F M Dzanya F R G Read J Sibanda Registered Address: ABC
Organisation Structure - ABC Holdings Ltd ABC Holdings Ltd (listed on BSE & ZSE) Tanzania Development Finance Company Ltd Iroko
Governance Structure - ABC Holdings Ltd ABC Holdings Ltd (Board of Directors) Nominations Committee Executive Committee Audit a
Chief Executive Officer’s Report Headline earnings 100 Headline earnings (BWP ’million) 80 60 77 40 20 0 2002 2003 2004 2005 20
Chief Executive Officer’s Report Impairment of loans and advances Impairment of loans and advances of BWP 26.4 million for the
Chief Executive Officer’s Report (continued) 1,800 1,600 Deposits (BWP ’million) 1,400 1,200 1,000 1,222 1,415 800 1,048 600 65
Chief Executive Officer’s Report Zambia African Banking Corporation Zambia Limited – 100% holding Microfin Africa Zambia Limited
Chief Executive Officer’s Report (continued) The Zimbabwean macro-economic situation continued to deteriorate in 2006 with no s
Chief Executive Officer’s Report organic growth demands. Where opportunities arise, the Group will seek to pursue acquisitions
ABC Holdings Limited Capital Adequacy Capital Adequacy statement as at 31 December 2006 2006 % 2005 % 2004 % 2003 % 2002 % CAPI
Products and Services Corporate and international banking The corporate and international Banking division has highly motivated
Products and services (continued) • establishing and maintaining relationships with major stockbrokers, accounting and legal fir
Group Management Douglas Munatsi-Chief Executive Officer Douglas Munatsi was born in Zimbabwe in 1962. He has been Chief Executi
Risk and Governance Risk Management Effectiive risk management is critical in a complex organisation like ABC Holdings Ltd (“AB
Risk and Governance Group Risk Management continually seeks new ways to enhance its risk management techniques. It also updates
Risk and Governance (continued) The Board has defined and documented a credit policy for the group which forms the basis of cred
Risk and Governance Operational Risk is the risk of loss due to inadequate, or breakdowns in, internal processes, systems, and
Risk and Governance (continued) At the August 2006 board meeting, the board made a decision to meet at least six times a year f
Risk and Governance Remuneration committee The remuneration committee is chaired by Mr. O M Chidawu a non-executive Director of
Corporate Social Investment African Banking Corporation is a Group with an authentic African heritage and we owe our success, i
Annual Financial Statements Zambia South Africa Contents Directors’ Responsibility . Report of the Independent Auditors . Direc
Directors’ Responsibility Responsibility for the Annual Financial Statements The Directors are responsible for the preparation,
33
Directors’ Report Nature of Business ABC Holdings Limited is listed on the Botswana and Zimbabwe Stock exchanges and is the hol
Directors’ Report Directors’ Emoluments Directors’ emoluments in respect of the company’s Directors (Executive and Non-Executiv
ABC Holdings Limited Consolidated income statement for the year ended 31 December 2006 Inflation Adjusted 2006 Notes BWP ’000s
ABC Holdings Limited Consolidated balance sheet as at 31 December 2006 Inflation Adjusted 2006 Notes BWP ’000s 2005 BWP ’000s H
ABC Holdings Limited Statement of changes in shareholders equity for the year ended 31 December 2006 Attributable to holders of
ABC Holdings Limited Consolidated cashflow statement for the year ended 31 December 2006 Inflation Adjusted 2006 Notes BWP ’000s
Significant accounting policies Reporting entity ABC Holdings Limited (the “company”) is domiciled in Botswana. The consolidate
Significant accounting policies Basis of consolidation Subsidiaries Subsidiaries are those enterprises controlled by the compan
Significant accounting policies (continued) Liabilities are recognised when the group has a legal or constructive obligation as
Significant accounting policies Portfolio impairments are maintained to reduce the carrying amount of portfolios of similar loa
Significant accounting policies (continued) classified as a liability if it is redeemable on a specific date or at the option of
Significant accounting policies Termination benefits The group recognises gratuity and other termination benefits in the financial
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 Inflation Adjusted 1. NET INTEREST INC
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 Inflation Adjusted 2006 BWP ’000s 4.2
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) Inflation Adjusted 2006 BW
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 Inflation Adjusted 2006 BWP ’000s 11.
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) Inflation Adjusted 2006 BW
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 Inflation Adjusted 2006 BWP ’000s 12.4
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) 12.5 NON-PERFORMING ADVAN
Notes to the financial statements for the year ended 31 December 2006 Inflation Adjusted 2006 BWP ’000s 16. INVESTMENT PROPERTY B
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) Inflation Adjusted 2006 BW
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 Inflation Adjusted 2006 BWP ’000s 20.
Notes to the financial statements for the year ended 31 December 2006 (continued) 21. BORROWED FUNDS continued National Developm
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 Inflation Adjusted 2006 BWP ’000s 25.
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) Closing 31 December 2006
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 BWP ’000s 31. SEGMENTAL ANALYSIS Infla
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) 32. FINANCIAL INSTRUMENTS
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 32.1. CURRENCY RISK INFLATION ADJUSTE
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) 32.1. CURRENCY RISK HISTO
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 32.2. INTEREST RATE RISK Up to 1 mont
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) 32.3. LIQUIDITY RISK Up t
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 32.3. LIQUIDITY RISK Up to 1 month BW
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 (continued) 33. INVESTMENT IN SUBSIDI
ABC Holdings Limited Notes to the financial statements for the year ended 31 December 2006 34. ASSETS CLASSIFIED AS HELD FOR SAL
ABC Holdings Limited Company income statement for the year ended 31 December 2006 Historical Cost 2006 Notes BWP ’000s 2005 BWP
ABC Holdings Limited Statement of changes in shareholders equity for the year ended 31 December 2006 Share Capital BWP ’000s 5,
ABC Holdings Limited Notes to the company financial statements for the year ended 31 December 2006 Historical Cost 2006 BWP ’000
ABC Holdings Limited Notes to the company financial statements for the year ended 31 December 2006 Historical Cost 2006 BWP ’000
ABC Holdings Limited Notes to the company financial statements for the year ended 31 December 2006 (continued) Historical Cost 2
ABC Holdings Limited Notes to the company financial statements for the year ended 31 December 2006 12. INVESTMENT IN SUBSIDIARIE
ABC Holdings Limited Notes to the company financial statements for the year ended 31 December 2006 (continued) Historical Cost 2
ABC Holdings Limited Notes to the company financial statements for the year ended 31 December 2006 Historical Cost 2006 BWP ’000
Zimbabwe 76
ABC Holdings Limited Analysis of Shareholders RANGES Holders % of total Holder’s Shares % of total Shares 0 - 50,000 50,001 - 1
Notice to Shareholders NOTICE TO SHAREHOLDERS NOTICE IS HEREBY GIVEN that the Eighth Annual General Meeting of members of ABC H
ABC HOLDINGS LIMITED Incorporated in the Republic of Botswana on the 1st December 1999 Registration number: 99/4865 Form of Pro
Notes 1. A shareholder may insert the name of a proxy or the names of two alternative proxies of the shareholder’s choice in th
Page 1:
Mozambique Tanzania Contents Introduction . Values and Personal
Page 2:
Introduction ABC Holdings Limited is listed on the Botswana and
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Group Financial Highlights Five-year financial highlights on a h
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Net asset value per share 2.1 2.0 1.6 1.5 1.3 THEBE 1.0 1.5 1.6
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Chairman’s Statement Global environment The world economy conti
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Chairman’s Statement (continued) The rate of inflation closed th
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Directorate and Group Management ABC Holdings Limited - Board o
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Directorate CHIDAWU, Oliver M. (Zimbabwean) - Chairman Oliver C
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WASMUS, Johannes (Dutch) Hans Wasmus was born in Holland in 194
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Group Companies Directorate African Banking Corporation of Bots
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African Banking Corporation Zimbabwe Limited Chairman N Kudenga
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Organisation Structure - ABC Holdings Ltd ABC Holdings Ltd (lis
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Governance Structure - ABC Holdings Ltd ABC Holdings Ltd (Board
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Chief Executive Officer’s Report Headline earnings 100 Headline
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Chief Executive Officer’s Report Impairment of loans and advanc
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Chief Executive Officer’s Report (continued) 1,800 1,600 Deposi
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Chief Executive Officer’s Report Zambia African Banking Corpora
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Chief Executive Officer’s Report (continued) The Zimbabwean mac
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Chief Executive Officer’s Report organic growth demands. Where
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ABC Holdings Limited Capital Adequacy Capital Adequacy statemen
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Products and Services Corporate and international banking The c
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Products and services (continued) • establishing and maintainin
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Group Management Douglas Munatsi-Chief Executive Officer Douglas
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Risk and Governance Risk Management Effectiive risk management
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Risk and Governance Group Risk Management continually seeks new
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Risk and Governance (continued) The Board has defined and docume
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Risk and Governance Operational Risk is the risk of loss due to
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Risk and Governance (continued) At the August 2006 board meetin
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Risk and Governance Remuneration committee The remuneration com
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Corporate Social Investment African Banking Corporation is a Gr
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Annual Financial Statements Zambia South Africa Contents Direct
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Directors’ Responsibility Responsibility for the Annual Financi
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3
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Directors’ Report Nature of Business ABC Holdings Limited is li
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Directors’ Report Directors’ Emoluments Directors’ emoluments i
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ABC Holdings Limited Consolidated income statement for the year
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ABC Holdings Limited Consolidated balance sheet as at 31 Decemb
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ABC Holdings Limited Statement of changes in shareholders equit
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ABC Holdings Limited Consolidated cashflow statement for the yea
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Significant accounting policies Reporting entity ABC Holdings L
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Significant accounting policies Basis of consolidation Subsidia
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Significant accounting policies (continued) Liabilities are rec
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Significant accounting policies Portfolio impairments are maint
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Significant accounting policies (continued) classified as a liab
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Significant accounting policies Termination benefits The group r
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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Notes to the financial statements for the year ended 31 December
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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Notes to the financial statements for the year ended 31 December
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Notes to the financial statements for the y
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ABC Holdings Limited Company income statement for the year ende
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ABC Holdings Limited Statement of changes in shareholders equit
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ABC Holdings Limited Notes to the company financial statements f
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ABC Holdings Limited Notes to the company financial statements f
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ABC Holdings Limited Notes to the company financial statements f
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ABC Holdings Limited Notes to the company financial statements f
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ABC Holdings Limited Notes to the company financial statements f
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ABC Holdings Limited Notes to the company financial statements f
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Zimba
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ABC Holdings Limited Analysis of Shareholders RANGES Holders %
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Notice to Shareholders NOTICE TO SHAREHOLDERS NOTICE IS HEREBY
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ABC HOLDINGS LIMITED Incorporated in the Republic of Botswana o
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Notes 1. A shareholder may insert the name of a proxy or the na
African Annual Reports
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