Categories: News

Stocks to watch in Zimbabwe in 2018

ZB FINANCIAL HOLDINGS

ZB Financial Holdings gained 696 percent in the year to close at 36 cents. Currently the company is valued at $63.07 million. In the six months to June last year, ZB Holdings reported a 38 percent increase in net profit from to $8.2 million from $5.9 million in the comparable period in the previous year on increased transaction volumes and improved net insurance premiums . The banking unit expects non interest income to spur total income due to a surge in the use of plastic money. Upgrade of the core banking platform is underway whilst the supporting infrastructure has been scaled up. Additionally, the Group has also invested in a further 3 000 Point of Sale machines in order to boost its non interest income in a cashlite economy.  The company was removed from the sanction list in October 2016, a development which is expected to provide a boon to the group.

 

NAMPAK

Packaging group Nampak advanced 650 percent in the year to close at 18 cents. Its market capitalisation stood at $136.02 million. The company recorded a 13.5 percent growth in net income for the year to September 30 to $4.9 million from $4.3 million in 2016. The company is poised to further improve performance across the board in an environment of growing competition and greater regulatory requirements. The group focuses on delivering more operational improvements, most particularly at Glass and at Nampak Plastics Europe.

 

CFI

The agro-industrial group, CFI advanced 626 percent in the year to close at 70.75 cents . The company is valued at $75.02 million. CFI reported an impressive performance after significantly narrowing its after tax loss to $272 784 in the six months to March 31 from $6.1 million loss incurred in the prior half year, supported by the improved performance of its Farm and City unit. Analysts say despite being choked by high levels of debt, the agro industrial concern still holds a great potential supported by its strategic business units across the agriculture value chain. It has three divisions in poultry, retail and light manufacturing and property, all potential gold mines once the economy is on the recovery path. The group will also continue to unlock value opportunities from the existing land banks with identified development partners. However the agro industrial group is currently under suspension from trading in shares on the Zimbabwe Stock Exchange (ZSE) on corporate governance matters, following a dramatic major shareholder war, which saw a number of top directors leaving the group.

Continued next page

(607 VIEWS)

This post was last modified on January 8, 2018 11:35 am

Page: 1 2 3 4

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024

The Zimbabwe Gold will regain its value if the government does this…

Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…

October 16, 2024

Is Harare the least democratic province in Zimbabwe?

Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…

October 11, 2024