Chronicle
Michael Makuza, Business Reporter
AGRO-INDUSTRIAL brought in Zimplow Holdings, a manufacturing company, with a positive forecast for the rainy season, increased demand for services and products under its agricultural cluster, and government spending on infrastructure to drive business growth. expected to strengthen.
The group also applauded the government for showing new impetus to unlock agricultural productivity, infrastructure development and mining.
In an update to the nine-month deal that ended 30 September 2022, Group Corporate Secretary Sharon Manangazira said the business is poised to take advantage of the potential growth prospects presented by the government’s push. said.
“The central government has recently shown renewed impetus aimed at agricultural productivity, infrastructure development and mining evolution,” she said.
Manangazira said the government’s focus segment is exactly the market in which the group operates and therefore their business is poised to take advantage of the potential growth prospects from such sectors. Stated.
“The continued thrust of the national strategy for infrastructure development, coupled with continued drive-in output growth in the mining sector by the central government, bodes well for the Group’s logistics and automotive clusters and mining and infrastructure clusters.”
The group remains strongly positioned to deliver corporate strategies in the mining and infrastructure sector in a country targeting a USD 12 billion mining sector by 2023.
The ongoing rainfall season is set to drive demand for services and products under the agricultural cluster, the group said.
The country is expected to experience normal to above-normal rainfall as experts warn of a possible cyclone, according to the Meteorological Service.
Meteorological Service Department
We hope this will revive the farmers and that the forecast will allow them to work harder and get a bigger harvest at the end of the season.
The group, which operates strategic business units such as Zimplow Barzem, CT Bolts, Powermec, Farmec, Scan link, Trentyre and Mealie Brand, recorded revenue growth of 11% over 2021 over the period covered.
CT bolt
“Management will use the increased activity to achieve improved profitability within the economic sectors in which the Group operates, i.e. agriculture, mining and logistics, within the fourth quarter of 2022. We need to,” the company said.
Southern African Development Community (Sadc)
Under the Mealie Brand division, the company said it continues to focus heavily on export markets. To that end, Zimplow is strengthening its market position in the Sadc region.
“The company recorded a 26% growth over the previous year’s performance in the provision of equipment for export to its customers,” the company said.
