ZECO Holdings’ revenue surged 82% to ZWG$1.72 million in the third quarter ending 30 September 2025, boosted by a more stable currency environment and a strong rebound in property occupancy, the Zimbabwe Stock Exchange-listed group said in its latest trading update.
The engineering and property investment firm reported a sharp rise from ZWG$941,913 recorded in the same period last year, reflecting improved operating conditions after a year of relative macroeconomic calm.
“Revenue was moderate over the period with the current year’s third quarter revenue at ZWG$1,715,383.39, while the previous year’s third quarter revenue was ZWG$941,913.40,” the company said.
ZECO’s recovery has been supported by a stabilised ZiG, underpinned by tight monetary policy from the Reserve Bank of Zimbabwe. Following the September 2024 devaluation, the central bank has maintained exchange rate stability through strict liquidity management, high interest rates at 35%, and strong USD inflows from gold and tobacco exports.
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Record gold earnings — US$458 million in July and USD 467.2 million in August — have strengthened foreign currency availability, narrowed the parallel market premium and reduced losses associated with the export surrender regime.
This stability has been critical for ZECO, whose operations are highly sensitive to currency swings, production costs and consumer demand. With reduced volatility, the company has managed costs more predictably and sustained firmer margins.
Property performance also improved significantly, with shop occupancy rising to 52.17%, up from 30.77% last year, supported by intensified marketing and stronger tenant confidence. Administrative costs were contained at 19.52%, while property expenses stood at 21.69%.
Looking ahead, ZECO expects stability to continue, supported by infrastructure development and steady commodity prices.
However, the company warned of risks such as delayed government payments to contractors and ongoing export retention requirements, which may pressure the exchange rate if fiscal constraints persist.
For now, ZECO remains “cautiously optimistic,” positioning itself to benefit from rising occupancy, controlled costs and festive-season demand — provided the current macroeconomic stability holds.
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