·         Appointments: Econet

·         Press Release: Econet; Ecocash Holdings; Caledonia; GetBucks

·         Trading Update: Tanganda; Caledonia; Nampak

Harare - Appointments: Econet

Econet Wireless Zimbabwe Limited announced the appointment of Tatenda Alice Ngowe to the position of Group Company Secretary with effect from 01 August 2023. Tatenda has been a part of the Econet Group for the past 10 years and has served in various capacities in the Finance and Corporate departments, with experience in experience in finance, strategy, corporate governance and investor relations.

Press Release: Econet; Ecocash Holdings; Caledonia; GetBucks

On the 7th of August 2023 at 14:30 Hours, Econet Wireless Zimbabwe Limited held an extraordinary general meeting of the Company at which shareholders made a number of resolutions which include that the Directors of the Company be and are hereby authorised to offer renounceable rights offer shares in the ratio of 17.122 new shares for every 100 shares already held in the company at the close of business on 18 August 2023 of an aggregate of 401,586,371. The rights on offer may only be renounced in favour of existing shareholders of the Company, and the options available to the shareholders are: to follow their rights in United States Dollars, or to pay the consideration for the rights offer shares in Econet Debentures at a price of US$0.06252 per debenture.

Econet also announced that its 25^th Annual General Meeting (AGM) of the members will be held on Thursday 31 August 2023 at 10.00am virtually via the link: https://econet.escrowagm.com/.

Ecocash Holdings Zimbabwe Limited issued a notice that its 5^th AGM will be held at the Registered Office of the Company at 1906 Liberation Legacy Way (formerly Borrowdale Road), Harare on Thursday, 31 August 2023 at 1400hrs. It will also be held virtually through https://ecocash.escrowagm.com/.

Caledonia Mining Corporation reported that, sadly, on 7 August 2023, an accident took place at the Blanket Mine in Zimbabwe, as a result of which one employee of GMG - a company contracted to Blanket Mine - succumbed to his injuries in hospital today. The accident related to the maintenance of trackless equipment.

GetBucks Microfinance Bank Limited announced that its 6^th AGM of the Shareholders of GetBucks is to be held virtually, on Thursday 31 August 2023, at 1000 hours.

Trading Update: Tanganda; Caledonia; Nampak

Tanganda Tea Company released a Trading Update for the 3^rd quarter ended 30 June, 2023, in which the Company reported a 45% growth in inflation adjusted revenue to ZWL32 billion, while revenue for 9-months to 30 June, 2023, rose by 61% to ZWL100 billion. The growth was mainly induced by inflation-led price adjustments. Despite a positive growth in revenue, operational performance was poor in the 3-months under review, with bulk tea production dwindling by -4% against comparable period in prior year while bulk tea export volumes fell -12%. Packed tea sales volumes fell by -7% while Avocado production was -38% below prior year. Macadamia production, on the other hand, was in line with prior year. Resultantly, profit after tax plunged by -10% from prior corresponding period to ZWL9 billion.

Caledonia Mining Corporation registered a steady revenue of US$37 million in the quarter ended 30 June, 2023, against US$37.09 million recorded in the corresponding period last year. However, due to costs of waste-stripping at the Bilboes oxide operation, notwithstanding a small revenue contribution of US$2.2 million from the division, Caledonia succumbed to a -39% decline in gross profit from US$17.9 million in Q2 of 2022 to US$10.9 million in the period under review. At Blanket mine the on-mine cost per ounce was US$915, up from US$692 in the comparative period in the prior year, with the increase attributed to the poor production performance in the Quarter. Caledonia suffered a foreign exchange loss of US$3.6 million in the period under review due to the continued significant devaluation of the ZWL to US$. The Company recorded a poor production performance in Q2 of 2023, with 17,436 ounces of gold being produced from Blanket mine, down from 20,091 ounces produced in Q2 of 2022. A total of 1,076 ounces of gold were produced from the Bilboes oxide operation, and the mine will be returned to care and maintenance. On the upside, production at Blanket in July of 7,829 ounces of gold and strong operating cash flows therefrom demonstrate that production challenges in the first half have been addressed.

In a Trading Update for the 3^rd quarter ended 30 June, 2023, Nampak posted a revenue growth of 41% to ZWL413.2 billion in inflation adjusted terms, against comparable period in the prior year. The growth was attributed to marginal volume improvements and inflationary pricing. The improved USD collections in the quarter were channeled towards working capital to meet customer demand. In the Hunyani Paper and Packaging business unit, sales volumes grew by 5% against corresponding period in the prior year, with volumes into the tobacco market increasing by 12% due to improved crop. Despite demand for commercial carton volumes remaining firm, volumes fell by -12% against prior year due to constrained raw material supplies. The Cartons, Labels and Sacks Division sales volumes for the third quarter were 7% up on prior year due to improved demand for tobacco paper wrap. In the Plastics and Metals division, Mega Pak sales volumes dwindled by -7% owing to power cuts which impacted the ability to meet demand. On the upside, CarnaudMetalbox sales volumes rose by 9%.

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