The companys chief executive officer, Dave Lenigas, told ***The Zimbabwean from London that Lonzim reported a turnover of 4,9million for the year, a rise from 2,6million that was recorded during the similar period in 2009.
Group turnover grew 90 per cent year on year, demonstrating the start of the recovery for the economy, he said.
As a result of the improving economic stability in Zimbabwe, LonZim has seen tangible progress in its operations during the year, Lenigas said in a statement.
He was buoyed by some measure of economic stability and upbeat about the companys performance in the foreseeable future.
The Zimbabwean economy today is a fraction of its former size but, importantly, is again growing. Historically Zimbabwe was one of the strongest and most successful economies in Africa driven by agriculture, mining and tourism. These industries are now showing the first signs of recovery, led by a rise in hotel occupancies and renewed inward investment by the larger mining companies.
LonZim was established in December 2007 and has built a strong portfolio of assets and operations. The company is heavily involved in such sectors as tourism, accommodation, infrastructure, transport, commercial and residential property, technology, communications, manufacturing, retail, services, leisure, agricultural and natural resources industries among others.
Post published in: Agriculture