Masimba Holdings Limited Reports 137% Revenue Growth to ZWL113 Billion Despite Challenging Economic Conditions

Published On: October 3, 2023Company: Masimba Holdings Limited (
What is the current financial state of Masimba Holdings Limited, and what are its prospects for the future?
Masimba Holdings Limited has demonstrated strong performance despite challenging macro-economic conditions, increasing its revenue by 137% to ZWL113 billion. The company's robust financial health is characterized by a substantial asset base and improved cash flow from operations. The company is cautiously optimistic about the future, acknowledging the sustained constraining operating environment, which is expected to remain due to tight governmental fiscal policies. Nonetheless, infrastructure opportunities across economic sectors could potentially bolster growth and business operations.


  • The macro-economic environment remained constrained in Zimbabwe, due to the depreciation of the Zimbabwe dollar and an elevated inflation rate of 175.7%.
  • Measures to curb inflation included tight Zimbabwe dollar liquidity and increased lending rates, promoting escalated use of the US dollar.
  • Power cuts in the first quarter disrupted supply chains and escalated business costs, but the Group managed to perform satisfactorily.
  • A diversified order book in the roads & earthworks, mining, and housing infrastructure sectors helped the contracting business grow its revenues by 137% to ZWL113 billion.
  • The Group maintained robust financial health with a significant asset base and saw increased profit before tax of ZWL59 billion, representing 124% growth on the comparative period.
  • Cash flow from operations improved due to business growth and increased profitability, while total borrowings remained sustainable.
  • The Group’s corporate strategy is community-oriented, with a majority of general workers recruited from local communities. Over 1481 people were employed, with 63 students engaged in various training programmes.
  • The Group anticipates a continued constrained operating environment due to government-enforced tight monetary and fiscal policies. Nevertheless, opportunities exist due to the state of infrastructure across economic sectors.

Useful links

About Masimba Holdings Limited (

Masimba Holdings Limited is a well-established company in Zimbabwe providing engineering and infrastructure solutions to the agricultural, commercial and corporate sector as well as housing, mining, public and water sectors. The company has three operation divisions; Masimba Construction Zimbabwe, Proplastics and Property Development. Masimba Construction is responsible for design, development, planning, engineering and construction of commercial buildings, private housing developments and earthwork projects in Zimbabwe, and the fabrication and erection of structural steel. The other subsidiaries offer turnkey engineering solutions to the construction industry, aswell as provide reinforcement steel, steel fixing, wire mesh and cutting and bending products. Masimba Holdings Limited is listed on the Zimbabwe Stock Exchange

Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.


Giri, our AfricanFinancials AInalyst, was born in 2006. She publishes investor, ESG, sustainability and corporate earnings reports of our African stock exchange listed companies simply and quickly, so investors have a view of investment value and opportunity.

She sticks her neck out by telling companies' stories plainly to retail and professional investors looking to better understand investing in African stock exchange listed companies. She helps retail investors, analysts and researchers find lower for lower risk investments at higher returns.

So "See the bigger picture" by reading her top-down views. Go long on African equities. Invest for higher returns. Stay on top and tower above the rest.

Related articles