LonZim upbeat about future

UK-based investment company, LonZim, buoyed by an impressive financial performance in the past year, this week forecasted a positive future for its subsidiaries in Zimbabwe.

The company, which disposed of its Mozambican subsidiary in September to focus solely on Zimbabwe, said group turnover for the year was £5,926 million compared to the previous year of £4,900 million.

Gross profit for the year increased by 55 percent (£1,2 million) when compared to the previous year.

“Zimbabwe remains a country with strong potential. The fundamentals are still in place to recreate the historic levels of economic activity that were seen in the eighties and nineties when Zimbabwe was one of the most successful economies in Africa driven by agriculture, mining and tourism,” stated LonZim chief executive, Dave Lenigas.

“LonZim has historically striven to be the best in each market where it operates. As the economy recovers, each LonZim business is well positioned to benefit and, importantly, has the necessary skills, resources and capabilities to grow.”

The company said, during the period, LonZim remained focused on its core objective to own and develop a range of strong businesses, build first class management teams in those businesses and capitalise them as necessary to be first back to market as the economy recovers and grows.

LonZim was established in December 2007 and has built a strong portfolio of assets and operations in Zimbabwe.

Post published in: Business

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