1/11 To understand business in Zimbabwe, you need to understand Delta Corporation, the country’s largest listed company and one of the few companies with over $1 billion in revenue.
Delta’s recent results reveal so much about the Zimbabwean economy, business operations, taxation, and what 2026 is going to look like that we will need to split these posts into a series.
Here is Part 1: Billions in Revenue, Strong Performance, but Two Big Risks.
Let’s Unpack!
Work kicking off at Bulawayo’s Fairgrounds, a new shopping complex being developed by @terraceafrica for the Tigere Property Fund. It’s due to be completed in 2027.
Tigere is a ZSE-listed real estate investment trust (REIT) that currently holds Highland Park, Chinamano Corner, Greenfields and Zimre Park Drive-Thru.
Four more properties are being added to the Tigere portfolio this year, including Cardinals Corner and the Design Quarter at the Highland Park Precinct.
Tigere is targeting rapid growth in net asset value (NAV), the total value of a property portfolio after taking out liabilities.
Tigere wants to grow NAV from US$60 million last year to US$100 million this year, and US$200 million by end of 2028.
[🎥 Mandebvu Contracting]
“In cement, you can’t just think for the next 2-3 years, you need to think for the next 20 years…”
🎥 PPC Africa CEO Matias Cardarelli speaks today on why the company wants to build a new plant in Zimbabwe.
Zimbabwe is an increasingly important market for PPC, with rising cement demand helping offset slower growth in SA and Botswana.
In the year to March, PPC Zimbabwe’s sales volumes rose 18%. Volumes were up 25% in the first half. Growth was 12% in the second half, after a gearbox breakdown at the Bulawayo plant slowed sales in the region for two months.
Revenue rose 20.5% to US$206 million, and earnings hit a record US$56 million.
PPC received US$36 million in dividends from Zimbabwe, up from US$13 million in the previous year, “another record for PPC Zimbabwe.”
Edgar's results are really interesting. Is formal retail back?
Revenue increased by 12% while overall expenses remained about flat. Profit more than doubled, and it was supported by cash flows, so it wasn’t just a paper profit.
This is definitely one of the most interesting (and potentially surprising) sets of results, given the narrative around formal retail.
I will still need to look at them more, e.g. how much credit is driving sales, but on first look, this seems like a pretty solid performance, especially in the current retail environment.
If you work in HR, you should know how to calculate both Compa-Ratio and Range Penetration. These are two of the most important metrics for assessing employee pay positioning, salary competitiveness, and pay equity within a salary structure.
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Whether you are conducting salary reviews, managing pay structures, or preparing remuneration reports for management and boards, these tools will make the calculations quick and easy.
@ipcconsultants
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@ipcconsultants
Edgars’ long path back:
In the March quarter, sales volumes jumped 43%, driven by a stronger product range and improved overall offering.
The company held prices steady to stay competitive. This kept customers coming, but squeezed margins. Gross profit margin, the share of each sale left after paying for the goods sold, slipped from 54% to 49%.
By division:
📍Edgars Chain sales volumes rose 35%. There’s a shift in how customers pay. Credit sales dropped from 66% to 54%, while cash sales climbed from 34% to 46%.
📍Jet sales climbed 37%.
INSTEAD OF WATCHING AN HOUR OF NETFLIX TONIGHT.
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Bookmark it and give it an hour, no matter what.
I have started a video series to teach HR professionals how to use AI practically in their day-to-day HR work. I am starting with an introductory video using Claude. Over the course of the series, we will cover almost all major AI use cases in HR, including recruitment and performance management, HR reporting, training, workforce planning, and more.
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@ipcconsultants
Willem Swan has resigned as the Group Chief Executive Officer of Zimplow Holdings with effect from 1 May 2026, having assumed this role on 1 March 2025.
He became an Executive Director on the Board of Zimplow Holdings with effect from 23 September 2025.
@zimplow@VFEX_ZW
Zimplow Holdings appointed Charles Chaibva as the Acting Group CEO effective 1st May. He is a CA & member of ICAZ & the PAAB, & is currently the Group Commercial Director, with 10+ yrs working experience.
Charles is formerly the Group CFO.
Congrats Charles!
@zimplow@VFEX_ZW
Your government of Zimbabwe 🇿🇼 is offering 🫴 lower costs of doing business in the 'booming' real estate sector
Here are some cost cuts.
What else should we ask for to make the country a construction 🚧 site
Tell me guys...Eastview Gardens,Eastlea.
What is it like living here?
What are the levies
How much is budgeted for on maintenance?
Who supervises the landscaping
Who pays the security guards
Refuse collection?