NTS bails on ZSE after decades of losses
National Tyre Services Limited plans to leave the Zimbabwe Stock Exchange after more than fifty years. The company cited ongoing losses, high costs, weak share trading, and economic instability as key reasons for its decision. It reported a loss of ZiG121.19 million for the year ending March 31, 2025, following a profit the prior year. Sales fell 25 percent, resulting in a 25 percent decrease in revenue to $143.35 million.
The board seeks shareholder approval to delist, aiming for greater flexibility and resilience as a private firm. Third-largest shareholder Radun Investments offered to buy up to 94,513,956 shares at US$0.0248 each, totaling US$2.34 million. This provides minority investors with an opportunity to exit before the company goes private.
Listed since 1969, NTS has faced challenges including foreign currency shortages, power outages, high borrowing costs, and intense competition. Production runs at only 30 percent capacity, and branches lose up to 40 percent of expected sales due to blackouts. Shares traded in only four of the past twelve months, with low volume. An extraordinary meeting on November 19, 2025, will decide the delisting.
