BridgeFort Capital Limited has reaffirmed its commitment to sustainability, emphasizing the crucial role businesses play in addressing the world’s most urgent environmental and social challenges. The company calls for immediate and bold actions to tackle issues such as climate change, poverty, hunger, and inequality.
As a private equity firm listed on the Zimbabwe Stock Exchange (ZSE), BridgeFort seeks to generate sustainable value for its shareholders through the acquisition and growth of unlisted businesses. The company boasts a diverse portfolio and multiple share classes linked to specific assets, with a history that dates back to its origins as MedTech Holdings, focusing on consumer goods, medical supplies, and light industrial products.
By embracing the Global Goals, also known as the Sustainable Development Goals (SDGs), BridgeFort has pledged to contribute to a more sustainable and equitable future. The company has made sustainability reporting a legal requirement, complying with SI 134 of 2019, and has adopted the globally recognized GRI Standards for its reporting practices.
In its 2023 annual report, BridgeFort stated, “We face big challenges in today’s world: poverty, hunger, inequality, and climate change are just some of the issues we need to address urgently. Big challenges need bold actions to overcome them, and that is where the Global Goals/Sustainable Development Goals come in. We all have a role in achieving them. Sustainability reporting is a legal requirement in terms of SI 134 of 2019, and the Company has adopted the GRI Standards in this regard.”
BridgeFort’s sustainability agenda is centered around three key areas: reducing its carbon footprint and greenhouse gas emissions, driving sustainable development, and supporting initiatives that address the United Nations’ Sustainable Development Goals related to poverty, hunger, and inequality. The company aims to contribute to a world where climate change is mitigated, and sustainable development is ensured for all.
In a strategic move to list on the Victoria Falls Stock Exchange (VFEX), which operates solely in foreign currency, BridgeFort plans to convert a significant portion of its cash holdings and investments in its subsidiaries from local currency to foreign currency, effectively divesting from local currency-denominated assets.
According to BridgeFort’s 2023 annual report, CEO Vernon Lapham outlined the company’s priorities for the year, including the VFEX listing and a transaction with Diaspora Kapita Proprietary Limited to acquire a South African business. Citing the local currency’s lack of value, BridgeFort is shifting away from holding net monetary assets in local currency. The company is also working closely with its investee companies to develop growth strategies and drive superior investment returns.
By taking these bold steps, BridgeFort Capital Limited is positioning itself as a leader in sustainable development, aligning with global efforts to combat climate change and promote social equity.
