Innscor Africa Limited, one of Zimbabwe’s leading light manufacturing groups, has continued to demonstrate robust growth and innovation, according to the latest equity research report published by IH Securities under the Inter-Horizon Group on October 11, 2025.
Innscor Africa Limited remains a dominant player in the consumer staples sector, manufacturing goods for mass markets through a portfolio of strategically integrated businesses. The group maintains its position as a low-cost producer with strong economies of scale and clear market leadership.
As highlighted in the report, “Innscor Africa Limited is a focused group of light manufacturing businesses which, together with various strategically integrated agricultural operations, produce a number of Zimbabwe’s iconic brands in the consumer staple product space.”
For the full year ended June 30, 2025, the company recorded impressive financial results. Revenue rose by 19.38% to US$1.09 billion, while earnings before interest, taxes, depreciation, and amortisation increased by 9.82% to US$94.5 million.
Profit after tax reached US$50.99 million, reflecting the group’s resilience amid Zimbabwe’s challenging economic environment.
Strategic Initiatives and Operational Highlights
The report underscores Innscor’s continued investment in innovation and manufacturing infrastructure. The company stated, “Investment into additional manufacturing equipment, which will enhance both capacity and capability, will continue into the new financial year.”
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A major highlight of the year was the restructuring and expansion of the Cereals division, which saw the launch of new products such as the “Pearlenta Nutri-Active” instant porridge range and “Better Buy Soya Delights,” a soya-based meat substitute.
The report noted, “The restructured Cereals division… continued to gain traction, supported by ‘Better Buy Soya Delights’, a soya-based meat substitute, which has also shown favourable uptake within the market.”
Despite strong volume growth across most divisions within National Foods, the group’s Maize Milling unit faced challenges due to competition from imported maize meal.
The report stated, “The year under review was exceptionally challenging for the Maize Milling division. Volumes decreased 32% against the comparative year, with the decline largely attributable to intense competition from imported maize meal.”
Innscor remains optimistic about the future, with plans to expand its range of nutritious and affordable cereal products and increase production capacity. These initiatives, according to the report, “are set to avail an exciting and affordable range of nutritious cereals to the market from the middle of 2026.”
The group continues to champion sustainability and a zero-waste philosophy, reinforcing its commitment to responsible manufacturing and long-term value creation.
Innscor Africa Limited’s forward-thinking approach, solid financial performance, and continuous investment in innovation have strengthened its position as one of Zimbabwe’s key industrial players, driving both shareholder value and consumer satisfaction.
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