Botswana-listed retail group, Choppies says revenue at its Zimbabwe operations grew by 17 percent in full year ended June 30 despite a sluggish economy underlined by chronic shortages of cash.
Simbisa Brands reported a net income of $6.3 million, up from $5 million last year driven by an eight percent growth in revenue. Revenue grew from $146.6 million in the same period last year to $158.9 million as the group opened up new stores across the region. In Kenya, Simbisa opened 8 new counters and closed four, bringing the total to 121 as at June 30.
Listed beverages manufacturer Delta Corporation, (Delta), says it is set to acquire a controlling stake in Lusaka Stock Exchange-listed sorghum beer company, National Breweries Plc (NatBrew), from its parent firm, Anheuser-Busch InBev SA/NV (AB InBev).
Zimbabwe’s tax agency says it anticipates to surpass the $3.7 billion revenue target by at least 15 percent, as it ups collection efforts. In the half year to June 30, revenue inflows amounted to $1.7 billion which was 8 percent above target and 9.74 percent higher than the comparable period last year.
Movement for Democratic Change leader Morgan Tsvangirai returned home today after four weeks in South Africa.
Malawi-based First Merchant Bank ( FMB) has received regulatory approvals to acquire an effective 42.7 percent shareholding in Barclays Bank Zimbabwe, completing its takeover of the bank.
Predictions by renowned world economic bodies and the government point towards economic recovery in Zimbabwe at least over the next 3 years.
Movement for Democratic Change leader Morgan Tsvangirai was so dodgy about the succession issue that people must be wondering whether he has not muddied the waters just like the Zimbabwe African National Union-Patriotic Front where the two-vice-presidents are reported to be of the same status.