US dollar order book boosts Masimba

MASIMBA Holdings (Masimba) says its revenue for the first quarter of 2023 rose 19 percent to US$11,4 million, underpinned by a firm order book.
The chief executive of the group, Canada Malunga, told The Financial Gazette on the sidelines of the company’s annual general meeting that all construction contracts are paid in a mix of US and Zimbabwean dollars.
“At the moment, our current income mix is about 60–40 percent in favour of the US dollar.
“Our expectations as we go to the end of the year are largely dependent on how the current fiscal policy is going to spin out, but we are sitting in a comfortable position in that our contracts are denominated in USD,” he said.