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Econet Wireless voice and data traffic up 6% and 18% respectively in Q1 2023

August 10th, 2022|

Econet Wireless' voice and data traffic grew by 6% and 18% respectively in Q1 2023. Highlights: Econet continues to incur significant foreign exchange (FX) losses as the foreign exchange rate weakened by 172% (Source: Econet). However, this is offset by the 7% holding in Liquid Telecom valued at US$145 million. The Telecoms Regulator allowed 61% [...]

Zanaco H1 2022 earnings increased to US$30m from US$21m year prior

August 10th, 2022|

Zanaco Plc, H1 2022 earnings increased to US$30 million from US$21 million in the year prior. Highlights: Net interest margin/total assets increased to 9.7% from 9.1%, while loans declined by 7% to US$572 million. No segment information was disclosed, but for 2021: Retail returned to a profit of US$7m. Corporate profit doubled to US$61m. Digital [...]

Seed Co Limited (Zimbabwe) – FY22 earnings decline to US$5.6m due to late rains

July 26th, 2022|

Seed Co Limited , FY 2022 earnings decreased to US$5.6 million from US$10.2 million in 2021. Highlights: H2 2022 was more profitable with earnings of US$5.3 million compared to H1 which had earnings of US$0.3 million. Operating margins decreased to 50% compared to 69% year prior. FY 2022 sales revenue increased by 44% while inflation [...]

EcoCash Holdings FY22 earnings recover to US$4.5m from a US$1m FY21 loss

July 25th, 2022|

EcoCash Holdings Zimbabwe Limited, FY 2022 earnings increased to US$4.5 million from a loss of US$1 million in FY 2021. Highlights: FY 2022 revenue increased to US$62 million from US$46 million in 2021. H1 2022 was more profitable with earnings of US$3.5 million compared to H2 which had earnings of US$1.0 million. Foreign Exchange loses [...]

Econet Wireless Zimbabwe FY22 earnings surge to US$43m from US$6m year prior

July 25th, 2022|

Econet Wireless Zimbabwe, FY 2022 earnings increased to US$43 million from US$6 million in FY 2021. Highlights: FY 2022 revenue increased to US$182m from US$121m in FY 2021. Foreign Exchange loses declined to US$12m compared to US$35m year prior. 2022 profitability improved as reflected by an increase in operating margins from 35% to 40%. FY [...]

National Foods (Zimbabwe) records a 11% volume increase for the 9 months ended March 2022

May 18th, 2022|

Highlights: National Foods Holdings Limited recorded a 11% volume increase for the 9 months ended March 2022 spurred by : Animal feed. Volume up 16%, poultry strong, Rice, salt. Volume up 41%. Snacks. Volumes up 33%. Cereals. Volumes up 45%. Maize. Volumes down 11% following good harvest. Outlook: Management positive and group is continuing its [...]

Equity Bank records Q1 2022 earnings of US$100m, up 34% from year prior

May 18th, 2022|

Equity Bank records Q1 2022 attributable earnings of US$100m, up 34% from US$79m year prior. Highlights: Equity Bank realised an annualised Return on Equity of 26% in Q1 2022. Profit before tax, Return on Assets (ROA) and percentange country contribution: PBT - US$m Kenya EA ex Kenya DRC Q1 2022 $93.0 $25.6 $15.7 Q1 2021 [...]

NMB Bank Tanzania Q1 2022 attributable earnings up 55% at US$44m

May 17th, 2022|

NMB Bank Tanzania recorded Q1 2022 attributable earnings of US$44m, up 55% from year prior. Highlights: NMB Bank realised an annualised Return on Equity of 28% in Q1 2022. Net interest margin/total assets of 8.4% relative to 8.7% on loans up 16% at US$2.1bn. Payroll deduction loans amounted to 65% of lending. Non-performing loans declined [...]

Cresta Marakanelo 2021 sales revenue up 7% at US$18.4m

April 12th, 2022|

Cresta Marakanelo 2021 sales revenue were up 7% to US$18.4m over 2020. Highlights: The good news is that since the lifting of Covid restrictions in October 2021, Cresta’s H2 2021 losses were 20% of the H1 2021 losses and sales revenues increased 24% in Q4 2021 vs Q4 2020. 2021 operating margins improved to -13% [...]