Building materials company Turnall updates on first-quarter reveals that sales volumes went up by 21%, largely driven by improved sales of concrete tiles.
It seems, building product shortages that dogged the group last year are now a thing of the past.
Apparently, construction company Masimba says despite the “unstable economic environment” in the first quarter of 2024, turnover grew 25% to US$14.3m.
Business was driven by contracts in roads, earthworks, mining and energy. The company made a US$2.6m profit (Q1 2022: US$1m).
Recently, the company forecast slower business in 2024; drought may slow down Govt contracts as mines shelve projects due to lower metal prices.
Meanwhile, for many Zimbabweans it appears they are investing in the property sector which appreciates value with time.
The local currency has for long failed to act as a store of value, hence the move to invest in properties.
Zwnews
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