National Foods mulls delisting from Victoria Falls Stock Exchange 

By James Muonwa

DIVERSIFIED milling concern, National Foods is on the verge of delisting from the Victoria Falls Stock Exchange (VFEX).

The VFEX is a subsidiary of the Zimbabwe Stock Exchange (ZSE) established in 2020 to help launch the Offshore Financial Services Centre (OFSC) in the Victoria Falls Special Economic Zone.

In a cautionary statement to shareholders and the transacting public this Thursday, National Foods group legal counsel and company secretary, Leigh C. Howes, said processes to finalise the move were already in motion.

“Further to the cautionary announcement dated 5th September 2024, shareholders and the investing public are advised that the Board of Directors of National Foods Holdings Limited (the “Company”) continues to contemplate a transaction which may have an effect on the Company’s securities.

“The Group is considering delisting from the Victoria Falls Stock Exchange.

“Further details of the transaction will be provided to Shareholders once all regulatory processes and further deliberations have been finalized,” said Howes.

“Shareholders are therefore advised to continue to exercise caution and consult their professional advisers when trading in the Company’s shares.”

The milling company is involved in flour and maize milling and cereal production, as well as projects in groceries, snacks and treats and cooking oil manufacturing.

It is the country’s largest food manufacturer, producing a broad range of fast-moving consumer goods. Reputable brands under its portfolio include Gloria Flour, Pearlenta, Red Seal and Better Buy mealie-meal, Mahatma and Mama Africa rice, Allegros Popticorn, ZapNax and Active Nutri-Smart instant porridge, among others.

In recent years, National Foods has embarked on a growth strategy that saw the milling giant embark on the production of animal feed, which is distributed across the region and other international markets.