Articles tagged 'innscor'

Innscor, Cabs clinch top awards 30 November 2017 HARARE – Innscor Africa was the overall listed companies winner of the Excellence in Corporate Governance Awards, while CABS was the overall banking sector winner. The Deposit Protection Corporation was the winner of the State Enterprises and Parastatals Award. Innscor was judged the overal...
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...
Padenga banks on improved US economy 28 March 2017 HARARE - Zimbbwean crocodiles and alligators breeder, Padenga, is banking on anticipated recovery in the United States of America's economy to boost its business. The group's chief financial officer, Oliver Kamundimu, yesterday said a growth in America's economy bodes well for his company. ...
Innscor bemoans cash crunch 8 December 2016 HARARE - Diversified group, Innscor Africa (Innscor), says the delays in foreign transactions are threatening business with suppliers waiting long periods to get their dues. Innscor chief executive Julian Schonken, yesterday told shareholders in the capital that as a result of delays in paymen...
Innscor unbundles another unit 20 April 2016 HARARE - Zimbabwe Stock Exchange-listed diversified group Innscor Africa (Innscor)'s retail and distribution unit, Axia Corporation Limited (Axia), is expected to start trading on the local bourse next month. Axia houses Innscor subsidiaries such as the transport and logistics company, Transer...
Namibian market excites Innscor 24 November 2015 HARARE - Zimbabwe Stock Exchange-listed diversified concern, Innscor Africa Limited (Innscor), says it is excited by opportunities presented by the Namibian market. The group's chief executive, Antonio Fourie, told businessdaily on Friday that the pan-African conglomerate was looking at variou...
Simbisa ends ZSE listing drought 9 November 2015 HARARE - Innscor Africa Holdings subsidiary, Simbisa Brands Limited (Simbisa), became the latest counter to list and trade on the Zimbabwe Stock Exchange on Friday. Simbisa, which runs quick service restaurants in Zimbabwe and 11 other African countries, however failed to stimulate the local m...
Ex-Lobels boss joins Innscor 21 May 2015 HARARE - Former Lobels chief executive — Ngoni Mazango — has joined rivals Innscor Africa Limited (Innscor) as chief operating officer for its bakery division, Business Live has established. Mazango, a seasoned executive credited with turning around the fortunes of Lobels, recently left the co...
Innscor challenges $2,5m CTC penalty 6 March 2015 HARARE - Listed diversified group Innscor Africa Limited (Innscor) is challenging the Competition and Tariff Commission (CTC)'s decision to fine it over $2, 5 million for unproceduraly increasing its stake in National Foods (NatFoods). Addington Chinake, Innscor chairman, said while the matter...
Innscor boss yet to secure Zim work permit 26 January 2015 HARARE - Innscor Africa Limited (Innscor)'s newly-appointed South African chief executive (CE), Antonio Fourie, is yet to secure a Zimbabwean work permit. Fourie told Business Live last week that he submitted the required papers to Zimbabwe's Immigration Department and was waiting for the proc...
Innscor shareholders endorse Fourie's appointment 24 November 2014 HARARE - Innscor Africa Limited shareholders have endorsed the appointment of South African Antonio Fourie as group chief executive. However, Fourie is yet to get his work permit from Zimbabwe’s immigration authorities. He takes over from John Koumides, who has been reassigned as head of co...
Innscor chairman resigns 31 October 2014 HARARE - Listed Innscor Africa Limited (Innscor) chairman David Morgan has resigned. The group is set to notify shareholders of his resignation at its annual general meeting (AGM) next month. This comes on the back of a management shakeup or restructuring at the diversified group, which saw...
Innscor posts $1bn revenue 12 September 2014 HARARE - Listed diversified group Innscor Africa Limited (Innscor) recorded $1 billion revenue in the year to June 2014, up 54 percent from $656 million realised prior year. The group said performance of its units was below expectation despite the revenue being a record in Zimbabwe since dolla...
Padenga targets 10pc output increase 13 June 2014 HARARE - Innscor's crocodile-skin producer Padenga Holdings said it aims to increase production by approximately 10 percent in 2015. The company, with crocodile farms in Zimbabwe and the United States (US), said it will meet its target to cull 43 000 crocodiles this year. Its US operation c...
Red tape stalls OK regional expansion 10 June 2014 HARARE - Listed grocer OK Zimbabwe (OK) says red tape is stalling its regional expansion plans. Its chief executive Willard Zireva said the group's efforts to set up operations in two countries he did not disclose (but are reportedly Mozambique and Zambia), have “proved difficult”. “If you ...
OK plans $16m capex, quits Innscor deal 9 June 2014 HARARE - Listed supermarkets chain OK Zimbabwe (OK) plans to spend $16 million in capital expenditure this year, targeted mainly at refurbishments and establishment of bakeries. It intends to renovate six of its retail outlets and open up in-house bakeries, a move resulting in the termination...
'Colcom profits to double' 10 April 2014 HARARE - Innscor Africa’s meat processor Colcom is tipped to more than double its year to June 2014 profits to $4,8 million on the back of refurbishments and an expansion programme, analysts projected. Colcom recorded a $2,2 million profit in the half year to December 2013. Stock broking fi...
Bakers fall on hard times 9 March 2014 HARARE - Zimbabwean bakers are financially distressed with most of them producing at way below capacity, the National Bakers Association of Zimbabwe (NBAZ) says. Givemore Mesoemvura, the association’s president, said while the bread price has remained unchanged at $1 per loaf since dollarisati...
Innscor scales down bakeries 9 March 2014 HARARE - Listed diversified group, Innscor Africa Limited (Innscor), is scaling down its bakeries due to depressed demand in the retail sector. Its chairperson, David Morgan, said the group’s confectionery division produced disappointing results in the half year to December 2013, with volumes ...
$50m for innscor expansion 7 September 2012 HARARE - Divesified group Innscor Africa Limited (Innscor) plans to invest $50 million towards expansion of its footprint, chief executive Tom Brown said. Brown said approximately $38 million of the funds would be spent on its bakeries, fast food outlets, pork-processing business Colcom and some ...