TN Holdings will “soon” be investing US$250 000 in Zambia in a development that will culminate in the launch of TN Medical Aid Fund in Zambia.
TN Holdings group chief executive Mr Tawanda Nyambirai confirmed the developments.
He added that the opening up of shop in Zambia is now at an advanced stage and the group is awaiting the Reserve Bank of Zimbabwe (RBZ) approval, which is set to come any time “soon”.
“We will be launching our medical aid scheme in Zambia and we already have a management team in place. We intend to invest US$250 000 subject to RBZ approval and the Securities Commission,” said Mr Nyambirai.
He added that TN Holdings has already held meetings with Zambian medical authorities and the country’s securities commission respectively.
The latest developments come after the diversified company got off to a good start after 4 847 shares exchanged hands at 6 cents on its maiden trade on the local bourse, having opened at 2,3 cents.
Mr Nyambirai said he is happy with the acquisition of Tedco despite concerns in the market over the rationale of the transaction.
“There is talk that we bought a shell from Simba Mangwende (Tedco chief executive), but that is not true. What we have done is we have bought ourselves into the ready market through Tedco’s existing clientele and properties,” added Mr Nyambirai.
The listing of TN Holdings was completed through a reverse takeover of Tedco Limited by TN Holdings Limited resulting in the change of name to TN Holdings Limited.
Mr Nyambirai also said the new entity would exploit synergies between the furniture manufacturing and retail concern.
“We intend to create shops that sell world-class furniture and offer world-class banking services provided by our strategic partners, all under one roof,” he said.
Stockbrokers note that those with TN Holdings shares are not likely to sell in the near future.
“The price is quite good, looking at the last price Tedco traded, last week.
“However, we can say the counter is liquid, we are not going to see much change in terms of the movement of the shares as the price is likely going to revolve around that price,” said one stockbroker.
Tedco has one of the largest distribution networks in the retail industry comprising of Zimbabwe Furnishers shops, Sleep Eezy and Radio Limited.
On the other hand, TN Holdings has TN Asset Management (a financial advisory company), TN Financial Services, TN Medical Benefit Fund and TN Bank.
By Kudakwashe Mutandi
[The Sunday Mail – sundaymail.co.zw]
What is the medical aid fund all about?…. For whose benefit? Any profit motive?
Zimbabwe is coming to invest in Zambia., subject to approval …..Interesting !…. Makes one wonder how the RBZ appropriates it’s ‘meagre’ reserves among private enterprises .
Good to see development coming to Z though , just hope it’s not money tainted with blood..!
How can Zimbambwe invest in Zambia because those are very poor chaps some one explain to me what this aid nonesence is about?
what a shame. coming to invest $250,000 inorder to reap millions of dollars. Zambians are very sleepy. They should have been investing in Zimbambwe but every day we hear of zimbabweans investing little money in Zambia to reap more millions? Wake up Zambians
#1! phew. simplistically, a medical aid fund is a just health insurance; just as you would take out health insurance for your car; you take up insurance for your health by paying monthy premiums for a varied range of cover. the principle is that here is pooling of resources whereby the relatively healthy end up susubsidizing the the frequentltly ill. here is you (A) and here is me (B) and we subscribe to a medical ais fund. we both pay the same premium. if you happen to be a healthier person than iam you possibly will not need to use any health services in 1 particular year whereas i use services upto beyond what i have actually contibuted in that year. meaning my excess will be subsidized by your contributions and what is left over will then be profit
as
but as you well know, insurance companies by definition always try to get away from having to pay anything if they can manage it, hence the nonsensical debate in the US about health care reform
# 3 agree with you 100%. sleepy zambians!! this is not an investment by these goons but rather astute foreigners identifying business ventures we are too blind to utilise. remember the zezulu era? sleepy zambians were busy laughing at the enterpreneurship of this group of people and letting opportunity slip by.
#2 your question answered. refer above
Good, we dont have to go to Zim to do shopping now.
All you contributers on this forum are always good at criticizing everything, your negativity is repulsive. You say Zambians are sleepy….interestingly I dont see non of you bums engaging in investments. If you are know it alls as you proclaim, show us what you can do instead of running your sorry ass mouths. Movers & Shakers do tangible things and not just talk sh##. Make Zambia proud & do your part instead of useless banter!!!!
#7 if there will be any Zambia left for Zambians..Zambian embassies do not even make an effort to encourage zambians to invest. However, Zimbabwe etc people are lured to invest.
#8 Does Zambia even intend to ever acquire investments in other African countries?