Tag: Zimbabwe

Delta Corporation revenue jumps 114% on back of recovered volume sales from low prior year base

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ZIMBABWE – Zimbabwe’s largest beverages maker, Delta Corporation, has registered a 114% growth in revenue in the first quarter to June 2021, in inflation adjusted terms, following significant recoveries in volumes, coming from a tight lockdown that disrupted business in the same period last year. The manufacturer of leading brands like Castle lager, Zambezi lager, Pilsener, Coca Cola and Chibuku in Zimbabwe, said on a historical basis, total revenue was 391% better than prior year. Delta attributed the first quarter volume recovery to a low base the group was coming…

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Soft beverage manufacturer Schweppes Zimbabwe earmarks US$35m investment in citrus production

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ZIMBABWE – Schweppes Zimbabwe, manufacturer and distributor of non-carbonated beverages in Zimbabwe, is seeking to invest US$35 million in the next 10 years into a 2 700-hectare citrus plantation. This is in a bid to increase production and valued addition at its Beitbridge Juice Processing Plant. Shweppes, operating under a licence from The Coca-Cola Company Limited, currently processes 20,000 tonnes of fruits annually, against a target of at least 40,000 tonnes. The deficit is due to limited supply of raw materials in the local market, necessitated by the fact that…

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Zimbabwe’s African Distillers Limited reports rise in sales volume triggered by surge in spirits demand

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ZIMBABWE – African Distillers Limited, manufacturer, distributor and marketer of branded spirits, ciders and wines in the Zimbabwean market, has reported sales volume growth of 34% in the nine months period ended March 2021. According to the beverage maker, the growth was triggered by surge in the consumption of spirits and ready to-drink beverages which grew by 50% and 22% respectively. The company indicated that a new product, Gold Blend Number 9, was launched in the spirit category during the period under review, and was well received by the market…

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Seed Co International, Seed Co Limited merger denied, SCL bounces back to ZSE

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ZIMBABWE – SeedCo International Limited (SCIL), has abandoned plans of acquiring its Zimbabwean subsidiary, Seed-Co Limited (SCL), after failing to get all the regulatory approvals. According to the reginal seed producer, shareholders of both SCIL and SCL had approved the transaction earlier in March, but the External Loans and Exchange Control Review Committee turned down the proposal that same month. “Approval for the transaction was declined by the External Loans and Exchange Control Review Committee on 26 March 2021. An appeal against the decision was made on 7 April 2021…

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Zimbabwean livestock farmers benefit from newly launched traceability system powered by Mastercard

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ZIMBABWE – E-Livestock Global, an American venture capital funded social enterprise, has launched a first-of-its kind livestock traceability system in Zimbabwe, bringing end-to-end visibility to the cattle supply chain. The solution powered by Mastercard’s blockchain-based Provenance solution is aimed to empower Zimbabwean farmers to prove the origin and health records of their cattle, while reducing risks to buyers. A first in the Middle East and Africa, the solution brings new hope to the country’s agricultural sector after an outbreak of tick-borne disease in 2018 led to the death of 50,000…

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Delta Corporation benefits from product, market diversification reports 39% rise in full year revenue

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ZIMBABWE – Delta Corporation, Zimbabwe’s largest beverage manufacturer has reported a 39% rise in full year revenue to ZW$ 40.45 billion (US$111.7m) for the year ended March 2021. The revenue growth, according to the manufacturing giant was driven by inflation induced pricing across all product categories. Delta operates in four segments: non-alcoholic beverages, sparkling beverages, lager beers and traditional beers. Its lager beer volumes grew by 17% compared to prior year, with the volume recovery attained mostly during the second and third quarters following the relaxation of the COVID-19 restrictions.…

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Zimbabwe to undertake inaugural artificial insemination on rabbits in partnership with South African specialist

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ZIMBABWE – Zimbabwe is set to commence the use of artificial insemination (AI) on rabbits for the first time, following the Zimbabwe Commercial Rabbit Breeders Association (ZICORBA) entering into a deal with a reputable South African veterinary specialist, Vriesit Andrology Laboratories, for provision of the technology. The agreement is expected to significantly boost the country’s commercial rabbit breeding industry. According to reports by Chronicle, France and South Africa are among a handful of countries globally that practice artificial insemination on rabbits, especially for the purposes of commercial production of rabbits…

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Zambia’s agriculture industry gets US$80m boost from Chinese firm Zhong Yang Eco-Agriculture Industry Park

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ZAMBIA – Chinese firm, Zhong Yang Eco-Agriculture Industry Park, has signed a US$80 million Investment Promotion and Protection Agreement (IPPA) with the Zambia Development Agency (ZDA), aimed at enhancing investment cooperation between the two parties. The agricultural firm’s focus is in commercial seed production, animal husbandry, and fish farming. ZDA board chairperson David Masupa noted that the US$80 million five-year planned investment in the agriculture sector, will go a long way in contributing to the country’s Gross Domestic Product (GDP), reports Lusaka Times. He assured Zhong yang Eco-Agriculture industry park…

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Zimbabwe exempts rice from Value Added Tax, retailers welcome the move

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ZIMBABWE – Zimbabwean retailers have welcomed the government’s directive of scrapping Value Added Tax (VAT) on pre-packed rice. The traders have been pushing for an exemption from paying the tax on rice packages of 25 kilogrammes or less, arguing that the decision was undermining the “Zimbabwe is Open for Business” mantra. Confederation of Zimbabwe Retailers (CZR) President Denford Mutashu, welcomed the removal of VAT saying, “The confirmation of the VAT position for rice shows that Government is indeed committed to establishing a private sector-led economy in line with the open…

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Producer of organic animal feed in Zimbabwe MoFeed Africa Organic Solutions seeks US$1.5m for expansion

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ZIMBABWE – Zimbabwe based firm, MoFeed Africa Organic Solutions, producer of organic animal feed, is seeking about US$1.5m to expand its project in Wedza District, in Mashonaland East Province. MoFeed Africa Organic Solutions produces duckweed, a floating aquatic plant rich in protein, that can be fed to cattle, fish, pigs, chickens, sheep as well as goats. According to experts, the plant is not only rich in proteins, but also contains many macro- and micro-nutrients as well as vitamins and carotenoids, reports Business Times. It has been scientifically proven that its…

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