Economy Growing Significantly – Mangudya Points To Company Results

The economy is growing significantly, RBZ governor John Mangudya has said, pointing to “impressive” financial results by listed companies.

Mangudya is quoted by the Sunday Mail:

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A number of firms such as Delta, Econet, OK, Proplastics, Edgars, Seed  Co and others recorded impressive results that were released in the past few weeks. 

Such excellent results could not have been achieved if the economy was not expanding. Business confidence has also significantly improved during the past six months as is evidenced by the increase in consumer spending, including the increase in the demand for fuel of around 30 percent

Exports have responded very positively to the export incentive scheme; more so, given the firmness of the US dollar.

Foreign currency receipts went up by 15 percent to $2,8 billion during the period January to May 2018 compared to the same period last year, with the bulk ($1,8 billion) being exports, $470 million loan proceeds and $500 million Diaspora and international remittances

More: Sunday Mail

DeltaEconetJohn Mangudya

Delta Corporation Limited is a Zimbabwe Stock Exchange listed integrated beverage company with a diverse portfolio of local and international brands in lager beer, traditional beer, Coca-Cola franchised sparkling and alternative non-alcoholic beverages. It has investments in associate companies whose activities are in cordials and... Read More About Delta

Econet Wireless Zimbabwe, a subsidiary of Econet Wireless International, is the first and largest mobile network services provider in Zimbabwe. The telecoms giant became popular with its products and services such as Buddie. It has established branches in different corners of the country and enjoys... Read More About Econet

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

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