Zim remains attractive

Source: Zim remains attractive | Herald (Business)

The major shareholder in Nampak Zimbabwe, JSE listed Nampak South Africa says the cash-generative nature of the Zimbabwean businesses made the country appealing to Nampak even with its foreign exchange shortages and difficulties in repatriating cash from the country in the past.

As a result, the company expressed its commitment to doing business in Zimbabwe despite the problems it faced in recent
past.

Nampak’s subsidiaries in Zimbabwe include Hunyani, Megapak Zimbabwe and CarnaudMetalbox.

The company has however been facing challenges in repatriating funds outside of the country as well as servicing its foreign debt obligations.

Valuation of its assets has also been problematic as it now has to apply hyperinflation accounting. — Reuters.

COMMENTS

WORDPRESS: 2
  • comment-avatar

    Why is it that whenever there is a positive story here it is from the Herald? I think they are looking at the situation with rose-coloured glasses. Or, more likely, their government masters have instructed them not to run anything negative?

  • comment-avatar
    ace mukadota 12 months ago

    My old friend who is 94 always says – “when zim comes right ………..”
    He has been saying this for over 50 years now & I am not sure if I believe him !