VinChar Ceilings & Cupboards

#Zim2026BudgetFarSmallerThanShopriteSupermarketsTurnover Zimbabwe's 2026 US$9.5 billion chickenfeed budget presented by Finance minister Mthuli Ncube to parliament in Harare yesterday is far - almost US$5 billion - smaller than South African retail giant Shoprite Holdings' annual turnover which is U$14.3 billion. For perspective, Zimbabwe's budget is ZiG290 billion (US$9.5 billion); 17% of GDP. Annual revenues of ZiG288 billion (US$9.4 billion) against expenditures of ZiG290 billion (US$9.5 billion) are expected. That leaves a ZiG3.2 billion budget deficit (US$105.9 million) or 0.2% of GDP (US$53.31 billion). Shoprite Group sales surpassed R250 billion, an 8.6% increase to R256.7 billion (US$14.3 billion) for the 52 weeks ended 29 June 2025. The means Zimbabwe's budget is almost US$5 billion smaller than Shoprite annual turnover, or gross revenue. The Shoprite example dramatically and better illuminates the current reality of Zimbabwe's dire economic situation given that at its independence in 1980, the former British colony (Rhodesia) was the most industrialised country in sub-Saharan Africa after South Africa. Its currency, the now defunct Zimbabwean dollar which has changed names a number of times due to economic meltdowns and hyperinflation, caused by economic mismanagement, incompetence and corruption, was stronger than the United States dollar and the South African Rand. The country inherited a strong, diversified economy with vast linkages between its key economic pillars of agriculture, mining, and manufacturing. Its manufacturing sector, which had grown rapidly in the preceding years partly due to sanctions that encouraged domestic production, was larger and far more diversified than any other in the region except South Africa. Zimbabwe is mineral-rich, with gold, diamonds, lithium, coal and chrome, among many other resources, in huge quantities. It is the biggest tobacco and lithium producer in Africa, yet now one of the poorest. Opened in 1979, the Shoprite Group is South Africa's largest retailer by market capitalisation, sales, profit, employee count, and customer base. The Cape Town-headquartered conglomerate has 169 000 employees - including the 8 723 direct new jobs created this year - and thousands of stores - 3 478 shops and 615 franchise outlets - across Africa, mostly in the region except Zimbabwe. Shoprite's major shareholders include the Public Investment Corporation, which holds a significant stake, along with billionaire investors like Christoffel Wiese and institutional investors such as JP Morgan Asset Management and The Vanguard Group. It also has a notable shareholding of its own, with private and public entities making up a majority of the ownership. The company with the largest annual turnover in South Africa in 2025 is Old Mutual, with annual revenue of about US$37.65 billion, almost four times bigger than Zimbabwe's budget which is less than Gauteng Province's budget. Zimbabwe's budget is at least 15 times smaller than South Africa's budget of US$143 billion. Based on recent financial reports and rankings from late 2024 and 2025, here are the top companies by revenue in South Africa whose turnover is bigger Zimbabwe's budget: Old Mutual: US$37.65 billion Harmony Gold: US$16.93 billion Sasol: US$15.53 billion Shoprite: US$14.3 billion Bid Corp: US$12.52 billion South African companies like Naspers and Prosus, while often the most valuable by market capitalisation, derive much of their value from international investments, but may have a lower domestic annual turnover compared to these other giants. Given Zimbabwe's vast resources, there should be no comparison with these companies. Zimbabwe was a regional economic powerhouse, but now one of the poorest in the region; from bread basket to basket case. It is rich in natural resources, like most African countries, but badly run and now impoverished after massive de-industrialisation amid a protracted wave of economic decline over decades.