Seed Co Zimbabwe to raise US$19m to support regional expansion and listings

ZIMBABWE - Seed Co Limited, Zimbabwe based producer and marketer of certified crop seeds is seeking to raise upto US$19.2 million through a partial unbundling to support expansion as well as separate listings of its regional operations. The Herald has reported that Seed Co wants to unbundle 71% of Seed Co International represented by 242…

Pick n Pay achieves profitability as it looks to open more stores in Zimbabwe

ZIMBABWE - Meikles Limited, Zimbabwe’s hotel, retail and supermarket chain has announced that revenue in supermarkets division, jointly owned with Pick n Pay has increased from US$414 million to US$487.8 million in the year ended March 2018. According to IOL Business report, Pick n Pay is boasting of profitability in its Zimbabwe operations and is…

AB InBev’s Delta records 40% growth in revenue led by higher lager sales

ZIMBABWE - Delta Corp Ltd, Zimbabwe’s integrated beverage company has announced that revenue grew 40% mainly on increased lager beer sales in the first quarter, according to Bloomberg. Lager beer volumes increased 56% compared to the same period in the previous year while volumes for sparkling beverages (soda) rose 23% reflecting sales of drinks like…

Zimbabwe’s milk imports decrease on investments in the sector

ZIMBABWE - Zimbabwe Dairy Industry Trust (ZDIT) has revealed that milk imports in the year 2017 have declined significantly to US$7 million per month compared to US$22 million spend on importing milk and milk products in 2014 per month. This was attributed to numerous investments in the dairy sector both at the farm and processing…

Zimbabwe’s tobacco production hits highest at 207m kilograms in 2018

ZIMBABWE – The production of tobacco in Zimbabwe has hit its highest this year, when it produced 207 million in kilograms, according to Tobacco and Industry Marketing Board. According to AllAfrica, the board also confirmed that tobacco sales went up 29% from 161m kg, and the total crop value of the crop also increased to…

United Refineries adopts food fortification to stay along global trends

ZIMBABWE - United Refineries Ltd, the agro products processor has adopted food fortification as a strategy to keep along the country’s nutrition policy as well as address global trends. The Herald reported that the company which also produces brands in personal care, hygiene and value addition, has already fortified its lead-product, Roil Cooking Oil. This…

Zimbabwe could face a bread shortage again, says grain millers

ZIMBABWE - The Grain Millers Association of Zimbabwe through its spokesperson Garikai Chaunza has announced that the country could in the near future face a bread shortage as it is left with only a week’s supply of wheat. The Association has written to the Reserve Bank of Zimbabwe requesting for more funds for the outstanding…

Zimbabwe maize production to fall 46% as a result of climatic changes

ZIMBABWE - Zimbabwe’s maize production is estimated to record a 46% decrease to 1.2 million tonnes in the 2018/19 MY as compared to 2.2 million tonnes produced in the previous year, according to USDA’s June 20 GAIN report. The report further indicates that the country will still have to import about 300,000 tons of corn…

Reserve Bank releases US$20m for 200,000 tons of wheat imports

ZIMBABWE - The Reserve Bank of Zimbabwe (RBZ) has released US$20 million for importation of wheat from Canada and Germany to supplement the insufficient national wheat stocks. This was as requested by millers following poor harvest in the drought-hit southern African country. The amount will be used to pay for 200,000 tonnes of wheat procured…

Davipel Group invests US$12m in snack facilities

ZIMBABWE - Davipel Group of Companies, an agro-processing firm has invested US$12 million to construct two state-of-the-art snack facilities as it builds mileage in snacking, milling and feed production. Launched by President Mnangagwa, the facilities come handy following the government’s control on imports under Statutory Instrument 64 (SI 64) of 2016, a legislation that requires…