Harare — KINGDOM Financial Holdings Limited has confirmed that 183 workers have left the group under a voluntary separation package that is being implemented as part of an ongoing rationalisation and restructuring programme.

Acting chief executive Mrs Lynn Mukono-weshuro said the rationalisation has been necessitated by developments on the economic front that require companies to craft and implement robust plans to enable them to respond to the changing environment.

Mrs Mukonoweshuro said the restructuring had presented Kingdom with the opportunity to position the brand to expand locally and in the region.

In particular, there was need to right size the group by cutting on operational costs, focus on improving efficiencies and further enhancing customer service.

Mrs Mukonoweshuro said staff at all levels of the group, from the executive management to junior level, applied to leave the group to pursue other personal and professional interests.

"We believe that a new dawn is being ushered following the announced demerger of the group from Kingdom Meikles Africa Limited.

"This has given us the impetus to usher in a new era, rejuvenate our brand and take our renowned customer service and product innovativeness to a greater, new and unsurpassed level," said Mrs Mukono-weshuro.

She said the restructuring of the group had been approved by the board who, together with executive management, are confident of the future for of the Kingdom brand and are excited by the renewal process currently underway.

In addition to offering diversified financial services in Zimbabwe, Kingdom has associated banks in Botswana and Malawi and is exploring expansion opportunities in the region.

The group has also announced it would consider listing on the Johannesburg Stock Exchange's Africa Board.