Paul Nyakazeya, Group Digital Editor 
Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX)-listed firms are going to leverage on the country’s improved business environment to increase revenue and volumes in the short-term despite disruptions and threats still posed by the Covid-19 pandemic.
According to a set of recent trading updates, the companies said they were cautiously optimistic of a sustained improvement in major macroeconomic fundamentals into December and first quarter of next year, with hopes pinned on better access to foreign currency and a good agricultural season.
Mashonaland Holdings (Masholds) said the real estate occupier market was expected to improve, benefiting from Zimbabwe’s positive economic growth projections, which officials pegged at 7,8 percent this year.
“The company remains focussed on its strategic priorities which include portfolio diversification and portfolio optimisation to sustain overall business performance,” Masholds said in a recent trading update.
The property investment and development firm recorded a 37 percent increase in revenue to $359 million during the 12 months ended September 30, 2021 compared to the same period last year driven by periodic rent reviews, which the business has been performing in line with market practice.
With an air of expectancy in the country, Padenga Holdings said it plans to recommence exports of crocodile meat to Europe in the last quarter of the year.
Lafarge Cement Zimbabwe (Lafarge), on the other hand, said it was optimistic that opportunities in the infrastructure sector will spur growth for the cement maker.
This comes as the construction sector has experienced modest growth, mainly sustained by road rehabilitation, expansion and refurbishment of energy and water infrastructure projects, as well as individual housing projects throughout the country.
“The company is optimistic on the possible opportunities in the infrastructure sector and prospects of profitable growth in other sectors of the economy,” board chairman Kumbirayi Katsande said.
In a trading update for the quarter ended September 30, 2021, the VFEX-listed company said it did not export any crocodile meat during the period due to Covid-19 restrictions.
“The Covid-19 pandemic continued to negatively impact demand for crocodile meat by the European market.
“… 36 tonnes of export meat were in stock at the end of the period. Local market sales resulted in volumes of 150 tonnes being sold, up from 47 tonnes in the full year, 2020. We closed the period with 28 tonnes of meat for the local market in stock,” the company said.
Getbucks Microfinance Bank (Getbucks) said it expected the easing of Covid-19 measures to increase business activity in the economy.
This comes after the microfinance institution’s loan book closed at $202 million during the quarter ended September 30, 2021 compared to $69 million recorded in the prior quarter due to increased funding lines.
Getbucks said the effects of the Covid-19 pandemic began to lessen during the quarter, resulting in improved loan sales and the institution’s transactional volumes.
On the outlook, the microfinance bank said exchange rate stability was proving to be a formidable challenge.
MedTech, which is changing its name to BridgeFort Capital, said it was hopeful that market-driven and business-friendly policies will be implemented to prevent a deterioration in the economic environment which may undo the significant gains made in the past.
