Powerspeed Electrical Trading Update for the period ended 31 December 2020
In the latest trading update, the business environment in Zimbabwe shows signs of recovery post-COVID-19, although supply chain challenges persist, leading to product shortages. Foreign currency sourcing remains inadequate due to complex regulations, fostering informal market growth. Despite competitive pressures and margin constraints, overall trading volumes were strong, particularly in building materials, contributing to a nearly 5% increase in shareholder value. The outlook remains optimistic, supported by the resilience of the Zimbabwean economy and effective operational strategies.