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.