Seed Co. has seen “huge demand” in markets such as Zambia, Malawi and Kenya where the company is “synonymous with quality,” Harare-based Kingdom, the brokerage unit of Zimbabwe’s biggest locally owned bank, wrote in an e-mailed note yesterday.
Innscor is favored for its diversified product range, which includes Chicken Inn, Spar and three crocodile farms. The company’s “huge cash flow position makes it better able to pay handsome dividends,” according to the note.
Delta, in addition to having a dominant market share, is also expected to start running a new bottling line by late September, replacing 20-year-old equipment. This will increase capacity by as much as 600,000 hectoliters (15.9 million gallons) per year, the Kingdom analysts wrote.
Econet Wireless Holdings Ltd., Star Africa Corp., TA Holdings Ltd., RioZim Ltd., CFI Holdings Ltd., Pretoria Portland Cement Company Ltd. and African Sun Ltd. are also among Kingdom’s top 10 picks.