Local operations’ sales were 4% firmer compared to prior year despite a 3% contraction in average customer spend.

We are cognisant of additional lines of credit and the Targeted Finance Facility but the stringent terms and depressed aggregate demand in the economy will limit uptake in 2025.

No final dividend was declared.

FIRST Capital Bank’s (FCB) lending income grew by 48% in the financial year 2025, largely on the back of a 45% increase in customer deposits.

Other assets comprise Mazowe Walk and recently acquired land in Chegutu.

Accounting technicalities and capital expenditure underscored the jump in non-current assets and. by extension, total assets.

The group remains debt-free and continues to invest in capital expenditure using internally generated funds, hence no interim dividend was declared.

Operating cash flows more than doubled to almost US$300 million after the maturity of the debentures, with an estimated 60% of these inflows in USD.