Zhanda gains a million USD in a month

ZSE figures at close of day on January 31, 2023

Zim Now Writer

Zimbabwean businessman and former minister Paddy Zhanda is gaining big on his investment in Masimba Holdings with a million-dollar gain in the first few weeks of the year, according to Billionaires.Africa

Zhanda’s investment investments in Masimba Holdings increased by $385.22 million (US$1.2 million) in gains in 30 days. With an 8.08 stake held through Amalgamated Ventures Limited. Zhanda owns one the largest individual share parcels in Masimba Holdings.

When Billionaires.Africa did their analysis shares of Masimba Holdings on the Zimbabwe Stock Exchange were valued at $99.7 (US$0.31), giving the company a market capitalization of $24.1 billion (US$75 million), which firmly establishes it as the 21st most valuable stock on the Zimbabwean exchange.

In the 30 day period under review, the group’s share price on the local bourse has seen an impressive growth of 24.7 percent, skyrocketing from $79.96 (US$0.248) to $99.7 (US$0.31).

This translates to a market value increase of $385.22 million (US$1.2 million) for Paddy Zhanda’s 8.08-percent stake in Masimba Holdings, taking its value up $1.94 billion (US$6.04 million) from $1.56 billion (US$4.87 million) on 1 January.

The share price has further jumped up to ZWL$114 as of January 31 keeping the USD value stable as the ZWL continues to lose against the greenback.

Masimba Holdings owns Masimba Construction, one of the five companies with government contracts for the massive road rehabilitation and construction developments that Zimbabwe is undertaking.

Masimba Construction is also one of the three players in Tefoma, the SPV that is constructing the landmark Mbudzi Interchange.

Other Masimba companies are Proplastics, and Property Development. Paddy Zhanda (Jnr) is a non-executive director of Proplastics. Paddy Zhanda (Jnr) this week courted widespread approbation after he was caught on video while beating tied up workers.

https://zimbabwenow.co.zw/articles/2356/paddy-zhanda-arrested-over-assault