On a Date with AFDIS Limited

Mon Apr 17 11:51:15 CAT 2023

 <http://www.cloverleaf.co.zw/> 

On a Date with AFDIS Limited

Why not buy my shares as you buy Hunters, Savanna, Gold Blend? You can buy a
piece of me for 285 ZWL.

Welcome to On a Date with a listed company on the Zimbabwe Stock Exchange
(ZSE)

THREAD: On a Date with African Distillers Limited (AFDS)

#1. History

1944, A company is established in Bulawayo using the name relatable to a
former vice president of South Africa during the rein of Paul Kruger, P J
Joubert Limited.

1946, P J Joubert Limited changes name to African Distillers (AFDS).

The initial business of AFDS was the sale and distribution of imported
spirits, liqueurs and wines.

HOWEVER the purchase of a distillery in Mutare during the year brought the
start of manufacturing of a range of spirits locally.

1951, listed on the @ZSE_ZW

1974, AFDS moves its headquarters to Stapleford which houses its production,
warehousing and distribution facilities

2022, Distell a key supplier and shareholder of AFDS gets lured by Heineken
for USD 2.24 billion.

 <http://www.cloverleaf.co.zw/> 

#2. Operations,

AFDIS

is a manufacturer, distributor and marketer of branded WINES, CIDERS &
SPIRITS mainly licenced from @distellgroup in Zimbabwe

Apart from its headquarters it has 6 depots in Bulawayo, Harare, Kwekwe,
Masvingo, Mutare and Victoria Falls.

#3. Competitors,

 <mailto:ibc at zitf.co.zw> 

WGA Liquor

Known for Breakers Pure Cane Spirit, Special Dudley's Dry Gin & Black Bull
XO Brandy

Nyangani Industries

Lower end market producer of spirits, Sixer, Challenger, Kitoko, Bouncer &
Rivella

Mambo Beverage, producer of Ranger

Jeksa

A licenced beverage alcohol importer and  distributor of wine and spirits in
Zimbabwe. Associated with Friends Club Whiskey, Golden Touch,

Edward Snell & Co

A South African based producer and distributor of international brands in
Zimbabwe

#4. Challenges,

The influx of illegal and smuggled alcoholic drinks which undercut its
revenue as customers shift their money to the cheaper products

Access to cheaper foreign currency is limited in Zimbabwe. AFDS relies on it
to import from its SA supplier.

Purchase of Distell by @Heineken which is a strong competitor to @abinbev
the parent of Delta Corporation.

HOWEVER this could be mitigated by the Competition and Tariff Commission
which approves such deals to ensure fair play in the marketplace.

#5. Share price,

323.18 ZWL per share (USc29.38) as at April 14, 2023

263.40 ZWL per share on the 3rd of January 2023

32nd on ranking in terms of year-to-date performance on the ZSE

118,389,792 issued shares

38.6bn ZWL market cap (US$35.11m)

#6. Shareholding,

Afdis Holdings (AH) an investment vehicle owned by DLTA and Distell of SA
controls 70.45%.

DLTA holds 41.22% and Distell controls  29.23% of 70.45%.

AFDS is a subsidiary of Delta Corporation (DLTA) which controls a total
stake of 50.44%.

#8. Management,

Stanley Muchenje - Managing Director, (1 April 2021)

Holds a Business Studies degree from UZ and a M. Phil Marketing from IMM

Exposed to senior management programs including the acclaimed Accelerated
Leadership Development Programme at GIBS.

A distinguished marketer who proved his abilities at Delta Corporation and
formerly SABMiller now part of its former rival Anheuser Busch InBev.
Championing the localisation of production away from importation.
Commissioned a cider plant for its Hunters brand

#9. Pitch,

Investing in capital projects to localise production of some imported
products. Recently completed the construction of a cider fermentation plant
earmarked for Hunters Dry and Gold.

Key supplier is a major shareholder who supports the business.

Well positioned brands that appeal to the tastes of the younger consumer and
cheaper smaller packaged alcohol beverages.

Ability to leverage on the parent company Delta Corporation's resources such
as depots, dealer network to access a wide market.

Did you know that from your phone whilst  buying your favorite AFDS product
you  can buy its shares.

Download the @CTRADEmobile or @ZSE_ZW app and start investing on your usual
companies.

Whilst on it take note of the invitation to join aspiring investors

Each week will be on a DATE with a company listed on the ZSE with Martin
Mataga an Investment Democrat. Twitter @MartinMataga. The purpose of this
thread is to assist investors to have a minimum appreciation of listed
firms. Bulls n Bears has made reasonable effort to validate and update the
information before circulation but the onus is on the investor consult their
financial advisor. 

Disclaimer: Do not misconstrue this thread as investment advice. DATE
companies before you buy their shares. For comments and questions reply to
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com

Invest Wisely!

Bulls n Bears 

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