Dairibord Shuts Down Malawi Operation

Zimbabwe Stock Exchange-listed milk company Dairibord Holdings Limited (DHL) is pulling out of Malawi following losses by the country operation.

Said Dairibord CEO Anthony Mandiwanza:

The holding company could not leverage its balance sheet to capacitate Dairibord Malawi and as a result the company continued to experience difficulties.

In our decision we looked at various options… to attract potential investors who may want to inject equity so that we can invest and turn around the business that was not successful,

Dairibord company secretary Mercy Ndoro said:

Malawi is now regarded as a discontinued operation, the assets are available for sale and for the year ended 31 December, business posted a loss of $693 000 which was actually an increase from the $594 000 it incurred in 2017

More: Daily News

DairibordZimbabwe Stock Exchange

Dairibord Zimbabwe Private Limited (DZPL) is owned 100% by Lavenson Investments (Private) Limited which is 100% owned by Dairibord Holdings Limited. Dairibord Zimbabwe Private Limited is the flagship subsidiary of Dairibord Holdings Limited. It is arguably the biggest dairy products company trading in Zimbabwe and... Read More About Dairibord

The Zimbabwe Stock Exchange is the country's local bourse which has over sixty trading companies listed. The stock company is based in the capital city Harare and has evolved through various stages in its evolution. Read More About Zimbabwe Stock Exchange

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