Local firm to list on Mauritius main market
Mhango: "Listing aligns with our growth strategy to scale operations."
Ziweto Enterprise Limited, one of the Livestock sector player in the country, is expected to list on the Stock Exchange of Mauritius – SEM, following its incorporation in Mauritius on July 1, 2024.
The listing aims to raise $1 million through the issuance of 625,000 ordinary shares, providing the company with access to international capital and enhanced credibility in the global market.
According to company’s Chief Executive Officer, Victor Mhango, the SEM’s favorable regulatory environment and access to African and international investors made Mauritius an attractive destination for expansion.
Mhango said; “The incorporation in Mauritius and subsequent listing on the SEM aligns with our growth strategy to scale operations across Southern Africa and beyond.”
Ziweto’s local operations in Malawi have experienced steady growth, with its network of 21 Agrovet shops serving smallholder farmers and commercial entities.
The demand for livestock feed and veterinary services remains strong.
However, the company faces challenges in accessing foreign currency to finance imports and managing rising raw material costs.
“The main challenge we face is access to foreign currency to finance import of veterinary products and feed ingredients hence this listing is partly aimed at helping us address this challenge.” – Mhango said
“Another challenge we face is the rising cost of raw materials, especially maize and soya, which has impacted our feed production costs.”
The listing on the SEM is expected to help alleviate these constraints.
Additionally, Ziweto Holdings is part of the Malawi Stock Exchange’s Mzinga incubation program and plans to co-list on the local stock exchange in early 2025.
The SEM listing is a significant milestone for Ziweto Holdings, positioning the company for further growth and expansion in the region’s agribusiness sector.
About The Author
