IH Securities
IH Securities

IH Securities

Coverage: Zimbabwe
Inter-Horizon Securities is a securities trading company facilitating trade on the Zimbabwe Stock Exchange with a well-regarded equity research team that provides timely, accurate and unbiased views.
Location: Harare

Latest articles from IH Securities

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was reco...
IH Securities Tatenda
Tatenda Makoni @ IH Securities 21 September 2021

Padenga Holdings: FY20 earnings – consolidation of Dallaglio spurs revenues

Looking at the crocodile business; the global high-end leather goods market was not spared from COVID-induced depression in sales volumes for 1H20; albeit a strong recovery in sales in 2H20 driven by Asia as lockdown restrictions eased in that area. ...
IH Securities Tatenda
Tatenda Makoni @ IH Securities 22 June 2021

Zimbabwe: Covid update – riding the wave

The Medicines Control Authority of Zimbabwe has authorised the use of Sinopharm and Sinovac shots from China, Russia’s Sputnik V and India’s Covaxin. The government has set aside US$100mn for the vaccines to procure around 20mn vaccine doses in order...
IH Securities Tatenda
Tatenda Makoni @ IH Securities 26 April 2021

NMB Holdings: FY20 – Digitisation drive continues to pay off

The operating environment proved largely turbulent from a mix of the unstable exchange rate in the first half of the financial year and Covid-induced restrictions to FY20, affecting business operations. Despite these impediments, net interest income ...
IH Securities Vanessa
Vanessa Machingauta @ IH Securities 26 April 2021

Axia: 1H21 – Uptick in volumes drives top line

The operating environment eased as COVID-19 induced restrictions were relaxed and inflation declined giving rise to a relatively stable local currency. For our analysis historical financials were considered for the period under review. For the period...
IH Securities Tatenda
Tatenda Makoni @ IH Securities 31 March 2021

Seed Company: 1H21 Earnings Update

The Group registered strong revenue growth albeit a harsh macro-economic environment characterized by hyperinflation, high interest rates, tight liquidity, and local currency depreciation. We forecast a 290% increase in Seed Co Limited’s revenue to $...
IH Securities Florence
Florence Takaendesa @ IH Securities 12 February 2021