Zimbabwe’s Delta Corporation revenue up 18% on beer volume growth

ZIMBABWE - Delta Corporation’s, the beer and soft drinks company of Zimbabwe revenue has increased 18% in the year to March 2018, attributed to higher beer volumes and growth in larger sparkling beverages. The Herald report cited a trading update for the fourth quarter and full year to March 2018, which included the results of…

Seed Co Zimbabwe introduces new ‘climate smart’ maize variety

ZIMBABWE - Seed Co Zimbabwe, the country’s largest supplier of certified crops has introduced new climate smart maize seed variety called SC 649, meant to address challenges in climate change experienced by many farmers. The new variety meets breeding objectives which came at a time when Southern Africa has had adverse climate effects, including prolonged…

Simbisa Brands gets a go-ahead for stake in Foodfund, targets AIM listing

ZIMBABWE - Simbisa Brands Limited, a quick service and restaurant company has received a nod from shareholders to acquire a 50% stake in the South African restaurant operating firm, Foodfund Investments. At the same time, the board of directors were given the greenlight to seek listing on the London Stock Exchange’s Alternative Investment Markets (AIM)…

Zimbabwe imports rice worth US$80m, plans to start local production

ZIMBABWE - Zimbabwe plans to cut on its annual rice importation expenditure of up to US$80 million by embarking on commercial rice production in the next season or two, reports the Herald. “Zimbabwe is a net importer of rice and spends about $80 million annually to import the cereal. “We can cut our import bill…

Varun Beverages begins Pepsi production in Zimbabwe

ZIMBABWE - Indian soft drinks manufacturer, Varun Beverages, has started manufacturing operations in the country, but says the cost of setting up its plant might spiral from the initial budget of $30 million to about $40 million due to foreign currency shortages. Most companies in Zimbabwe are struggling to procure to foreign currency to import…

Dairibord considering closing its Malawi dairy business

MALAWI - Milk processor, Dairibord Holdings Limited, will make a decision on the fate of its Malawi division in the next six months after the unit continued on a perennial loss making path. Finance director Mercy Ndoro, told an analysts briefing on Wednesday that Dairibord Malawi had continued to be the group’s problem ‘child’, impacting…

United Refineries diversifies with new range of vegetable juice

ZIMBABWE - United Refineries Limited (URL), innovative producer of brands in personal care, hygiene and value added agro-products categories has diversified its operations into a new range of vegetable juice. The Bulawayo-based manufacturer is a subsidiary of Grindrod Limited and produces fast moving consumer goods, such as cooking oils, soap, stock feed and salad cream,…

ProDairy invests US$1.6m in grass feeding project to cut costs in Zimbabwe

ZIMBABWE – ProDairy, a leader in the fast moving consumer good (FMCG) industry in Zimbabwe, has made a US$1.6 million investment in a grass feeding program for cows to cut on the cost of milk production. According to the company, it will also establish a new division in partnership with a private equity firm, SubSahara…

Foodfund International to retain 50% stake in Simbisa acquisition

ZIMBABWE - Stakeholders of the Kuwait-based restaurant operating firm, Foodfund International (Foodfund Co.) are set to retain a 50% instead of 100% stake in the proposed acquisition of Foodfund Investments. Simbisa said that through an approval from the board, the two companies will have a 50-50 partnership in a move to leverage Foodfund’s experience and…

Zimbabwe bans imports of cold meat at the centre of Listeriosis outbreak in SA

ZIMBABWE - Zimbabwe is reported to have endorsed an import ban on cold meat products from South Africa, as the Listeriosis outbreak takes an elevation in SA. Zimbabwe joins four other countries that have opted to either suspend imports of the products or make an immediate recall of the affected products with what they termed…