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AGS Frasers Zimbabwe Grows Amidst Hardships. November 2007

Despite the deteriorating economic situation in Zimbabwe, AGS Frasers Zimbabwe has moved to larger and more practical premises and has purchased a generator, to deal with frequent power cuts. All this has enabled improved communication and accessibility to our clients. AGS Frasers maintains its operations in Zimbabwe, irrespective of the accumulation of difficulties. Rampant inflation resulted in devaluation of the currency at the beginning of September. The shortage of basic consumer goods and the deterioration of sanitation lead to a sharp increase in delinquency. According to Eric Cable, the Managing Director of AGS Frasers Zimbabwe, performing daily operations has become extremely difficult. AGS continues to cope with the situation, as the experience which we acquired during the previous decade on the African continent has enabled us to ensure a quality service, to which our internationally-based clients are accustomed.