Articles tagged 'bat'

Business environment still challenging: BAT 23 February 2018 HARARE - Zimbabwe's largest cigarette manufacturer, British American Tobacco (BAT), anticipates the business environment to remain challenging in the short to medium term, despite government overtures to improve the business climate. BAT managing director Clara Mlambo yesterday said while Pres...
ZSE breaches $5bn mark 12 June 2017 HARARE - The Zimbabwe Stock Exchange’s market capitalisation last week breached the $5 billion mark for the first time in nearly two years. The local bourse closed the week at $5 179 592 804 buoyed by gains in blue chip counters such as BAT, Delta, Innscor, SeedCo, Meikles and Colcom.  [Goo...
BAT fails to remit $8m dividend 12 May 2017 HARARE - Zimbabwe's largest cigarette manufacturer, British American Tobacco (BAT), is failing to pay over $8 million in dividend to its offshore major shareholder, due to foreign payment delays. BAT finance director, Lucas Francisco, yesterday told the businessdaily that the cigarette manufac...
BAT agonises over cash shortages 28 February 2017 HARARE - Zimbabwe's largest cigarette manufacturer, British American Tobacco (BAT), is failing to pay over $5 million in dividend to its offshore major shareholder due to cash challenges. BAT finance director, Lucas Francisco, last week told the businessdaily that his company was negotiating w...
Economic decline smokes out BAT 27 April 2016 HARARE - Zimbabwe's largest cigarette manufacturer British American Tobacco (BAT) says its annual production for the year to 2015 fell from approximately 1,5 billion sticks to about 1,2 billion sticks, on the back of economic challenges. The company's head of manufacturing Moses Musarugwa yest...
BAT Zim posts $15,5m profit 19 February 2016 HARARE - Zimbabwe's largest cigarette manufacturer British American Tobacco (BAT) grew its net profit by 15 percent to $15,5 million in the full year to December 2015 from $13,4 million registered in the previous corresponding period in 2014. The company's finance director, Lucas Francisco, ye...
Savanna recruits ex-BAT boss 2 September 2015 HARARE - Nick Hales, the former British American Tobacco (BAT) Nigeria managing director, has been appointed Savanna Tobacco (Savanna)’s global chief executive, as the group seeks to expand its African footprint. The appointment, along with Douglas Mamvura’s as chief marketing officer, is part...
Locals smoke 10m cigarettes a day 29 March 2015 HARARE - Zimbabweans are smoking at least 10 million cigarettes a day amid indications that the habit is expected to increase in the near future. Statistics from British American Tobacco Zimbabwe (BAT Zimbabwe) and Savanna Tobacco (Savanna) show that the two companies produced two billion stic...
BAT 'espionage' under govt probe 21 March 2015 HARARE - Government will investigate allegations that British America Tobacco (BAT) was working with security forces and Zimbabwe Revenue Authority (Zimra) to sabotage local tobacco manufacturers’ exports, a top government official said yesterday. Speaking to journalists after touring cigarett...
BAT doubles capital expenditure 24 February 2015 HARARE - Cigarette maker British American Tobacco Zimbabwe (BAT Zimbabwe) increased its capital expenditure to $2,2 million in the year to December 2014 from $1,2 million prior year. During the period under review, the Zimbabwe Stock Exchange-listed group registered a 256 percent increase in p...
Moyo zips it 12 June 2014 HARARE - Jonathan Moyo, the minister of Information, Media, and Broadcasting Services, has remained mum on his Monday meeting with President Robert Mugabe. Moyo yesterday refused to talk to journalists when he toured the Zimbabwe Stock Exchange-listed British American Tobacco (BAT) company in ...
BAT volumes flat 28 May 2014 HARARE - Cigarette manufacturer British American Tobacco (BAT) says its trading is flat, with volumes one percent lower in the five months to May 2014 compared to prior comparable period. Its managing director Lovemore Manatsa said he expects improved volumes in the second half of the year, ad...
BAT targets 1,45bn cigarettes as revenue slumps 25 February 2014 HARARE - British American Tobacco Zimbabwe (BAT) targets to produce 1,45 billion cigarettes this year on the back of surging demand. Its managing director, Lovemore Manatsa, said while the target is way behind the company’s peak of 2,3 billion in 1999, BAT would capitalise on a stable economic...
We're committed to ethical conduct: BAT 21 February 2014 HARARE - British American Tobacco (BAT) says it is committed to “high ethical and business standards” in all its operational facets in the country. This comes as the multinational cigarette maker, along many others, has come under the spotlight for various issues regarding statutory instrument...
Cigarette firms see red 14 February 2014 HARARE - British American Tobacco (BAT) is in a “twirl” amid reports that an assortment of its imported cigarettes is in violation of several public health regulations, it has been learnt. This comes as police authorities have ratcheted up seizures of a number of international brands, includin...
BAT to boost Zim Capex 3 February 2014 HARARE - Cigarette manufacturer, British American Tobacco (BAT), says it has invested $5,4 million in Zimbabwe over the past five years and plans to significantly boost capital expenditure (Capex) in the country this year. The group — producing an average 130 million cigarettes per month at 65...
BAT manager up for $17 000 fraud 16 December 2013 BULAWAYO - Simba Chiriya, 36, a former regional manager with the British American Tobacco Zimbabwe (BAT) and Mandizvidza Biza, a marketing representative have been hauled before the courts on allegations of stealing $17 000 from the company.
BAT among top fiscus contributors 4 October 2013 HARARE - Listed cigarette-maker British American Tobacco Zimbabwe Holdings Limited (BAT Zimbabwe) has been ranked among the top contributors to the fiscus by the Zimbabwe Revenue Authority (Zimra). The group — which in 2012 contributed over $28,6 million in excise duty, value added tax, and ot...
BAT profits slump on indigenisation costs 15 September 2013 HARARE - Cigarette-maker BAT Zimbabwe incurred a $1,4 million loss after tax in the half-year to June 2013, weighed down by a $10,6 million indigenisation expense. The loss comes on the back of a $5 million profit after tax recorded in prior comparative period. Kennedy Mandevhani, the group...
BAT unveils employee scheme 6 October 2012 HARARE - Tobacco processor British American Tobacco Zimbabwe (BAT) is set to launch an Employee Share Ownership Trust (Esot) as the company gears to comply with the controversial Indigenisation laws. Zimbabwe s indigenisation and economic empowerment regulations gazetted in 2010 compel non-indige...