Zim remains attractive
The major shareholder in Nampak Zimbabwe, JSE listed Nampak South Africa says the cash-generative nature of the Zimbabwean businesses made the country appealing to Nampak even with its foreign exchange shortages and difficulties in repatriating cash from the country in the past.
As a result, the company expressed its commitment to doing business in Zimbabwe despite the problems it faced in recent
past.
Nampak’s subsidiaries in Zimbabwe include Hunyani, Megapak Zimbabwe and CarnaudMetalbox.
The company has however been facing challenges in repatriating funds outside of the country as well as servicing its foreign debt obligations.
Valuation of its assets has also been problematic as it now has to apply hyperinflation accounting. — Reuters.
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