{"id":10951,"date":"2021-12-05T19:54:58","date_gmt":"2021-12-05T19:54:58","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises"},"modified":"2021-12-05T20:36:34","modified_gmt":"2021-12-05T20:36:34","slug":"seed-co-rebounds-as-zambias-kwacha-rises","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises","title":{"rendered":"Seed Co Rebounds as Zambia\u2019s Kwacha rises"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Seed Co International Limited says stronger Zambian kwacha rebound inspired by positive sentiment in Zambia boosted volumes and sales during the half year ended September 30, 2021.<\/p>\n

Seed Co\u2019s review period coincided with the election, in a landslide victory, of new President Hakainde Hichilema to office, after beating former president Edgar Lungu.<\/p>\n

Mr. Hichilema hit the ground running with immediate engagements with big lenders including the International Monetary Fund (IMF), promising to work out a concrete solution to Lusaka\u2019s debt crisis.<\/p>\n

Mr. Hichilema\u2019s international goodwill and promise to do things differently immediately fired up the Zambia kwacha, which bounced-back against the United States dollar.<\/p>\n

Still, Mr. Hichilema faces the task of turning around copper-rich Zambia from near-bankruptcy to a stable economy, but as Seed Co said this week, firms have benefitted from his reforms. The Zambian market is a key factor in the pan-African giant\u2019s operations, which cut across east, west and southern African markets.<\/p>\n

\u201cEffective US dollar selling price increases in Zambia, benefitting from the post-election kwacha appreciation, further enhanced revenue and gross margins,\u201d chief executive officer Morgan Nzwere said. Mr. Nzwere\u2019s commentary came as financial results for the period showed revenues rising to US$35,5 million, compared to US$27,9 million previously.<\/p>\n

However, profits slowed to US$1,5 million during the period, compared to US$2,5 million previously, as overheads charged in line with higher distribution costs and expenses associated with a massive push for stronger sales in \u201cthe nascent Ethiopian and Mozambican markets\u201d.<\/p>\n

Strong sales volume growth was recorded due to early seed dispatch to customers in Malawi and Tanzania, thanks to a healthy stock carry over position,\u201d the Seed Co CEO said.<\/p>\n

\u201cThe period under review witnessed the gradual relaxation of lockdown restrictions and border closures as the Covid-19 pandemic situation somewhat eased off as vaccination programmes in the various countries the group operates gathered pace.<\/p>\n

\u201cThis was a huge boost to the group\u2019s seed movements across regional borders. During this period, the main activities are the harvest of raw seed produced by growers and its subsequent delivery to the factories for processing in preparation for the upcoming selling season,\u201d he said.<\/p>\n

In July, Seed Co International said it was set to bolster its African ambition through State-backed food security interventions in Malawi and Zimbabwe, where it saw growth opportunities unravelling as Harare braces for landmark polls in 2023.<\/p>\n

Like in Zambia\u2019s case, poll time has traditionally unlocked market opportunities for the firm that has made aggressive forays into Africa from its Zimbabwe base.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Seed Co International Limited says stronger Zambian kwacha rebound inspired by positive sentiment in Zambia boosted volumes and sales during the half year ended September 30, 2021. Seed Co\u2019s review period coincided with the election, in a landslide victory, of new President Hakainde Hichilema to office, after beating former president Edgar Lungu. […]<\/p>\n","protected":false},"author":84,"featured_media":10950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,235,233],"class_list":["post-10951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nSeed Co Rebounds as Zambia\u2019s Kwacha rises - Zambia<\/title>\n<meta name=\"description\" content=\"Seed Co International Limited says stronger Zambian kwacha rebound inspired by positive sentiment in Zambia boosted volu ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seed Co Rebounds as Zambia\u2019s Kwacha rises\" \/>\n<meta property=\"og:description\" content=\"Seed Co International Limited says stronger Zambian kwacha rebound inspired by positive sentiment in Zambia boosted volu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-05T19:54:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-05T20:36:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/12\/img-61ad22b6871c4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Seed Co Rebounds as Zambia\u2019s Kwacha rises\",\"datePublished\":\"2021-12-05T19:54:58+00:00\",\"dateModified\":\"2021-12-05T20:36:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises\"},\"wordCount\":438,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/12\/img-61ad22b6871c4.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/seed-co-rebounds-as-zambias-kwacha-rises\",\"name\":\"Seed Co Rebounds as Zambia\u2019s Kwacha rises - 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