Zimbabwe Stock Exchange listed diversified conglomerate, Meikles Limited (Meikles) has been ranked among top African companies by the World Economic Forum for its sterling contribution in the country.
Meikles, a large conglomerate in Zimbabwe with over 100 years of history, is one of the few companies in the country which have continued to perform well despite the deteriorating economic conditions.
The group – with operations in hospitality, retail, agricultural and mining sectors – was this week honoured among 132 companies across the globe that have shown consistent growth such as Ethiopian Airlines, South Africa’s PPC Limited, a leading cement supplier in the region and Nigeria’s Waltersmith Petroman Oil Limited.
Meikles company secretary Thabani Mpofu said the award came as a result of the group’s resilience in the face of a difficult operating environment.
“This is all a result of hard and professional work from all of us including our chairman Mr John Moxon, directors of all the companies under Meikles Group, management and staff who have worked diligently to ensure that Meikles remains a dominant conglomerate with over 100 years of history,” he said.
Mpofu noted that the accolade was also recognition of how the company has grown its household brands in the fast moving consumer goods sector and five star-brands in the hospitality sector in South Africa and Zimbabwe and in the new area of mining.
“This is no mean achievement considering that there are millions of companies around the world which could have won the award but our distinctive brands were the difference. But let me hasten to say that this award is not only for us at the Meikles Group but for our broad range of clients and customers and indeed for Zimbabwe as a country.
“The World Economic Forum award, specifically the Global Growth Company honour we were given inspires hope among Zimbabweans that private companies in collaboration with government, can play a key role in the economic turnaround of our country,” he said.
Mpofu added that despite the current gloomy economic situation, the future looks bright.
“We pray that this award will help the world open its eyes to investment opportunities in Zimbabwe. As Meikles, we will not rest on our laurels all because of this global recognition. This will inspire us to do more and make sure we play our part in the Zimbabwean economy and also make sure our brand both as Meikles and as a nation transcends to all borders of the world,” he said.
Each year, the World Economic Forum recognises new Global Growth Companies through a rigorous selection process.
The Forum’s Community of Global Growth Companies brings together influential and fast-growing companies as innovators and market shapers, and supports their potential for impact in their region, their sector and around the globe.
This year’s GGC honourees represented a cross-section of industry sectors and share a track record of exceeding industry standards in revenue growth, promotion of innovative business practices and demonstration of leadership in corporate global citizenship.
“When choosing entrants to our Community of Global Growth Companies, we assess companies on their business model, annual revenues and growth rates, executive leadership and market position,” World Economic Forum’s Head of Business Engagement Olivier Schwab said.
“The 2015 honourees represent a dynamic group with clear potential to shape the future in different business sectors and therefore are a perfect fit for our GGC community,” he added.