The Reserve Bank of Zimbabwe yesterday released the list of 2 036 companies that received US$1.6 billion under the country’s foreign currency auction system this year. The largest beneficiaries were Varun Beverages, Blue Ribbon Foods, United Refineries, Dairibord Zimbabwe, Cangrow Trading, Willowton Group, Treger Products, Olivine Industries, Surface Wilmar and Sable Chemical industries. The top.
Rising costs milk Dairibord s profit margins - Zimbabwe Situation zimbabwesituation.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zimbabwesituation.com Daily Mail and Mail on Sunday newspapers.
By Alois Vinga
LISTED food and dairy products processor, Dairibord Zimbabwe Limited (DZL) has urged shareholders to exercise caution ahead of plans to enter into a transaction, which will likely to result in merger with an unlisted Kwekwe-based entity, Dendairy.
The DZL has made prior cautionary announcements dated on 1 July 2020 and subsequent updates on 22 July 2020, 13 August 2020, 4 September 2020, 25 September 2020, 16 October 2020, 6 November 2020 and 27 November 2020.
In an update this week, DZL company secretary, Samson Punzisani said the pending transaction is likely to have effect on the company’s share.
“Shareholders are advised that Dairibord Holdings Limited is still in discussion with an unlisted entity for a merger and acquisition transaction. If successfully concluded, this transaction will have a material effect on the price of the company’s shares, the full impact of which is still being determined,” he said.