Zimbabwe’s Seed Co lists on Botswana Stock Exchange to help raise US$19m funding

BOTSWANA - Zimbabwe’s largest seed maker Seed Co Limited has partially reduced its operations by the primary listing of Seed Co International on the Botswana Stock Exchange (BSE). The seed company will also get a secondary listing on Zimbabwe Stock Exchange (ZSE), its mother country as it targets to increase visibility on both the local…

AfDB to invest US$20m in Zimbabwe’s agricultural value chain

ZIMBABWE - Africa focused finance institution, African Development Bank (AfDB) has lined up US$20 million of investments in an agricultural value chain development programme in Zimbabwe, the Herald reports. The programme, which awaits approval from the government is looking to support three components of the agricultural value chains that is, beef development, horticulture development and…

National Foods posts 25% rise in profits favored by new political regime

ZIMBABWE - Zimbabwe’s largest milling company, National Foods Ltd has managed 25% rise in profits to US$17.174 million for the year ended 30 June 2018 and expects to benefit from better economic environment for its business following a new political dispensation. The group noted that this could only be possible if the ruling regime focused…

Simbisa Brands revenue increases 33% as it consolidates regional hold

ZIMBABWE - Zimbabwe’s Quick service restaurant (QSR) group, Simbisa Brands Limited’s revenue for the year ended 30 June increased 33% from US$151.1 million to US$204.7 million on expansion, consolidation and acquisitions in the regional markets. The group recorded growth in earnings attributed to increased operating efficiencies and higher revenue streams. Operating profit rose 60% to…

The State grain buyer seeks to raise US$75m to purchase maize from farmers

ZIMBABWE - Agricultural Marketing Authority (AMA), the government’s marketing agency plans to raise US$75 million for the purchase of maize from farmers in 2018 season, reports the Herald. The agro-bills which have a tenor of 360 days and interest rate of 7% per annum would be used for the purchases through the Grain Marketing Board…

Zimbabwe’s grain board GMB receives 900,000 tonnes of maize

ZIMBABWE - The cereals and oilseeds commodity trader, Grain Marketing Board (GMB) of Zimbabwe has received 896 273 tonnes of maize and 21 750 tonnes of small grains for the past crop season. The Herald reports the volume was a result of measures put in place by the parastatal to ensure smooth deliveries of the…

Nespresso announces long-term investment to revive Zimbabwe’s coffee industry

ZIMBABWE – Nespresso, a coffee operating unit of the Nestlé Group, has announced a long-term investment plan to revive Zimbabwe’s coffee industry and stimulate the rural economy. The company announced that it will provide training and technical assistance to 400 smallholder coffee farmers over the next five years, with the goal of increasing the country’s production…

Agric import substitution scheme receives US46m beef facility from Homelink Group

ZIMBABWE- Zimbabwe’s special maize import substitution scheme, Command Agriculture has received more private sector financiers including  Homelink Group, a subsidiary of the Reserve Bank of Zimbabwe (RBZ) who have provided US$6 million facility focusing on beef production. Other investors include National Foods Limited, Northern Farming, Staywell (Trading) and chicken producer Irvine’s Zimbabwe which is supporting…

FAO partners Zimbabwe on US$200,000 irrigation project to boost food security

ZIMBABWE- Food and Agriculture Organization of the United Nations in partnership with the government of Zimbabwe have announced a US$200,000 project to rehabilitate two major irrigation schemes in Zaka in a bid to enhance food security in the dry district, reports the Herald. The funding will be used in the revival of Nyatare and Mabvute…

Dairibord overturns loss position with 131% jump in profits in the half year

ZIMBABWE - Food and dairy processor, Dairibord Zimbabwe Holdings has recorded 131% increase in net profit to US$269,844 during the half year ended 30 June 2018 on volumes growth and restructuring. Revenue for the period was 15% above same period last year to US$50.8 million while volume grew 6% to 41 million litres as a…