NatFoods stock spikes on ZSE

NATIONAL Foods Holdings (NatFoods) was the best returning counter on the Zimbabwe Stock Exchange (ZSE) in October, with gains of 135 percent.
The stock gained $919 to close the month at $1 600 per share.
It was bested only by CFI Holdings (CFI), which gained 8 260 percent on its return since a 2018 suspension. But these gains were nothing more than inflation adjustment.

NatFoods’ gains came on the back of relative price stability in the economy and increased real incomes, which boosted consumer demand, resulting in strong growth in sales volumes across the company’s product portfolio.
The gains also came after the company announced that its tiff with the Reserve Bank of Zimbabwe (RBZ) over alleged non-compliance with exchange controls, was re