Delta crowned top company for 2024

UNITED Kingdom-based Zimbabwean artificial intelligence (AI) and sustainability expert, Ephias Ruhode, says local businesses have to keep innovating to continue prospering.

Speaking in Harare at last night’s Top Companies Survey (TCS) awards, where he was the keynote speaker, Ruhode also said business sustainability was critical for the development of the country.

The highly-regarded annual accolades, now in their 44th year, are organised by The Financial Gazette — the country’s number one business publication and prime voice for local industry and commerce — in close partnership with blue-chip financial services giant, Old Mutual.

Old Mutual group chief executive, Sam Matsekete hands over the top companies award to a Delta executive as guest of honor Ephias Ruhode and Jester media CEO Pilate Machadu look on.

“Sustainability is essential for Zimbabwe’s future as the country faces challenges that touch nearly every aspect of daily life,” Ruhode said.

He also underscored the critical need for sustainable agricultural practices, particularly in the context of the recurring droughts, adding that this was vital for improving Zimbabwe’s food security. Further, Ruhode said, there was an urgent need for investment in green energy to address both power and water shortages.

Turning to AI, he said the technology had the potential to revolutionise key sectors of the country’s economy, while creating new job opportunities. Speaking ahead of last night’s high-profile ceremony, the group chief executive of Old Mutual Zimbabwe, Sam Matsekete, said the theme for this year’s awards — ‘Sustainable Investment for Social Impact’ — was a fitting tribute to the winners whose businesses had prospered while showing a strong commitment to social responsibility and environmental care.

“This is a significant milestone for corporate Zimbabwe, pushing for enhanced transparency and accountability beyond purely financial measures.

“Companies must now report on crucial ESG-related metrics such as emissions, energy consumption, and waste management.

“This step, which is in keeping with global standards like the Global Reporting Initiative (GRI) and the International Financial Reporting Standards (IFRS), is designed to ensure that businesses are not only judged by financial success, but also by how they manage their contribution and impact on the environment and society,” Matsekete said.

“Sustainability is not just an addon. It should be viewed and treated as a strategic imperative if business must survive within the societal and environmental ecosystem,” he added.

Meanwhile, for the second year running, Delta scooped the overall TCS award, after judges concluded that the conglomerate had shown the ability to be agile, innovative and daring enough to take on challenges amid risks.

Delta also came out tops in the Environmental and Sustainability category where judges said it had managed to win the award due to a consistent performance amongst all the criteria used to assess the winner of this award.

Cigarette manufacturer, BAT Zimbabwe was first runner-up, while Simbisa Brands was adjudged second runner-up — with Mash Holdings and National Foods ranked third and fourth runners-up, respectively. In the banking sector category, for the second time in three years, Ecobank was adjudged the winner.

This was in recognition of its outstanding performance and unwavering dedication to customer-centric banking. Stanbic Bank Zimbabwe Limited was the runner-up, for showcasing unwavering commitment to innovation, customer service and exemplary leadership in management.