Econet, Zimbabwe’s largest mobile cellular provider, more than doubled its average revenue per user between June and December last year.
Tobacco heavyweight, TSL, saw its net profit for the year ending October soar by 576 percent, beating annual inflation for that month of 525 percent though tobacco production had declined by 50 percent and the company auctioned only 55 percent of the 82 million kg produced.
Despite a 40 percent decline in volumes, which was due to market shrinkage and not loss of market share, Chemco Holdings still managed to earn a net profit of $5.2 billion in the year ending October.
A 45 percent growth in exports mainly to Zambia and Kenya, saw volumes at Hunyani grow by 6.7 percent during the year ending October.
Zimbabwe’s tobacco auctions kicked off on a high note on March 30 with 196 930 kg being sold at an average price of US$1.74 a kg.