Recently published research from Business Monitor International, "Zimbabwe Food & Drink Report 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 03/06/2013 -- Zimbabwean economic growth in the first three years following the return of macroeconomic stability that came with dollarisation in 2009 was relatively robust at an estimated 5.8%, 8.1% and 9.3% year-onyear (y-o-y) respectively in 2009, 2010 and 2011. However, the prospects for growth to remain at these levels in 2012 and the years thereafter look somewhat dimmer. While we acknowledge that Zimbabwe, with its abundant natural resources, educated workforce and relatively developed physical infrastructure, possesses considerable potential, it will require the inflow of foreign capital to finance the harnessing of this potential.
Key Industry Trends
Delta Shining Post Dollarisation: Zimbabwe's Delta Corporation, which dominates the Zimbabwean beer and soft drinks landscape, has invested considerable sums in the country (believed to be in the vicinity of US$200mn) since 2009 with SABMiller, which owns about 36% of its equity, among its main backers. Given its size, its allegiance and how well it has done post 2009, Delta has been able to access credit internationally at affordable rates. Significantly, both beer and soft drinks have been performing very well with both units registering annual volume growth in excess of 20% in the year to March 2012. The company reported a 37.4% rise in net sales to US$479.9mn, with operating profits jumping by 44% to US$98.3mn. In October 2012, Delta Corporation has become the first company in the country to achieve a market capitalisation of US$1bn.
View Full Report Details and Table of Contents
Retail Attracting Interest in Zimbabwe: We estimate formal food retail stores account for about 25% of sales in Zimbabwe. To provide some context, this compares with about 5% in Kenya, which is considered to be among the region's most developed organised retail markets after South Africa, Botswana and Namibia. Mass grocery retailers such as South Africa's Pick n Pay are believed to be keen to increase their exposure to Zimbabwe. Given that Pick n Pay increased its stake in domestic retailer Meikles-owned TM to 49% during 2012, the retailer is now better positioned to expand in the country. In summer 2012 Pick n Pay opened its first store in Harare, Zimbabwe, after acquiring the stake in TM. The outlet includes a supermarket, a liquor store and a clothing store as part of the refurbished Kamfinsa shopping centre, and will devote at least 40% of its floor space to fresh produce and deli goods. Pick n Pay has said that the rebranding exercise of TM stores will take at least three years to complete.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Food research reports at Fast Market Research
You may also be interested in these related reports:
- France Food & Drink Report Q1 2013
- Argentina Food & Drink Report 2013
- Greece Food & Drink Report Q1 2013
- Australia Food & Drink Report Q1 2013
- Bulgaria Food & Drink Report Q1 2013
- Hong Kong Food & Drink Report 2013
- Hungary Food & Drink Report Q1 2013
- Estonia Food & Drink Report 2013
- United Kingdom Food & Drink Report Q1 2013
- Vietnam Food & Drink Report Q1 2013
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)