ECONOMIC PERFORMANCE

Our approach is to ensure that our experienced teams with industry expertise, deep market knowledge and entrepreneurial creativity continue to manage all capitals deployed for value creation and sustaining in the short and long term.

DEFINED CONTRIBUTION PENSION PLAN

The Group ensures that all qualifying employees are members of voluntary and statutory pension schemes managed through self-administered defined contribution pension schemes and the relevant statutory bodies. The Group manages the Innscor Africa Limited Pension Fund and the National Foods Pension Fund. Compulsory external schemes comprise the National Social Security Authority Scheme, Workers Compensation Insurance Fund and the Catering Industry Pension Fund.

The total contributions to the schemes for the year is presented below:

Inflation - Adjusted

 Unit20212020201920182017
PensionZWL134,931,28772,263,782160,758,193145,929,369151,368,360

Historical

 Unit20212020201920182017
PensionZWL111,785,087 11,205,4764,722,2324,286,6394,446,408

Value added statements

Inflation-Adjusted

Economic Value GenerationUnit2021
ZW$’000
2020
ZW$’000
2019
ZW$’000
2018
ZW$’000
2017
ZW$’000
Value Generated *ZWL24,651,19820,415,96414,841,9978,013,2257,149,675
Other Income and InterestZWL(927,03)387,465178,419179,700154,128
Equity Accounted EarningsZWL2,227,3262,296,880906,944401,209211,867
ZWL25,951,48923,100,30915,927,3608,594,1347,515,670
Economic Value DistributionUnit2021
ZW$’000
2020
ZW$’000
2019
ZW$’000
2018
ZW$’000
2017
ZW$’000
Other Operating CostsZWL(9,686,096)(10,275,074)(6,093,758)(2,920,670)(2,778,663)
Staff Costs and benefitsZWL(7,068,053)(2,968,383)(3,472,201)(2,564,370)(2,249,830)
Impairment and related chargesZWL777,5891,083,784412,326(122,930)(337,310)
Depreciation and AmortisationZWL(1,141,268)(1,081,768)(1,425,524)(565,779)(520,496)
Providers of CapitalZWL(1,614,187)(1,031,263)(313,040)(280,059)(212,209)
Provisions for TaxesZWL(2,779,971)(1,870,808)(1,761,038)(481,896)(270,307)
Monetary gain(42,339)466,261348,477
Value AddedZWL4,397,1647,423,0583,622,6021,658,4301,146,855

* Measured by gross profit during the period.

Historical

Economic Value GenerationUnit2021
ZW$’000
2020
ZW$’000
2019
ZW$’000
2018
ZW$’000
2017
ZW$’000
Value Generated *ZWL25,132,8136,402,752571,286235,387210,020
Other Income and InterestZWL1,240,4651,063,52951,7475,2794,527
Equity Accounted EarningsZWL1,880,571858,41449,41811,7856,224
ZWL28,253,8498,324,695672,451252,451220,771
Economic Value DistributionUnit2021
ZW$’000
2020
ZW$’000
2019
ZW$’000
2018
ZW$’000
2017
ZW$’000
Other Operating CostsZWL(8,024,537)(1,593,289)(179,003)(85,794)(81,623)
Staff Costs and benefitsZWL(6,335,162)(1,472,183)(141,381)(75,328)(66,088)
Impairment and related chargesZWL645,211397,287(9,988)(3,611)(9,908)
Depreciation and AmortisationZWL(182 305)(82,409)(32,538)(16,620)(15,289)
Providers of CapitalZWL(1 415 318)(237,453)(13,402)(8,227)(6,234)
Provisions for TaxesZWL(2 451 245)(920,064)(57,303)(14,156)(7,940)
Value AddedZWL10,490,4934,416,583,428238,838,67248,715,96933,688,612

* Measured by gross profit during the period.

PAYMENTS TO GOVERNMENT

Inflation - Adjusted

 Unit2021
ZW$’000
2020
ZW$’000
2019
ZW$’000
2018
ZW$’000
2017
ZW$’000
Corporate Tax – AssociatesZWL224,16116,52011,1955,2241,084
Corporate Tax – SubsidiariesZWL2,034,902261,32915,1168,2276,563
Intermediate Money Transfer Tax (IMTT)ZWL581,583109,30815,941--
Value Added Tax (VAT)ZWL245,784101,327(9,671)5,2506,624
Import DutyZWL542,24935,0446,9565,4194,359
Other TaxesZWL1,564,754312,87921,7029,6845,260
Grand TotalZWL5,193,433836,40761,23933,80423,890

Historical

 Unit2021
ZW$’000
2020
ZW$’000
2019
ZW$’000
2018
ZW$’000
2017
ZW$’000
Corporate Tax – AssociatesZWL16,519,89611,195,2615,224,0841,084,3571,148,496
Corporate Tax – SubsidiariesZWL109,959,05815,115,5028,226,6766,562,72011,548,556
Intermediate Money Transfer Tax (IMTT)ZWL109,308,14615,941,097---
Value Added Tax (VAT)ZWL101,326,965(9,670,657)5,249,5696,624,3495,855,393
Import DutyZWL35,044,3716,956,2945,419,1644,359,3895,124,560
Other TaxesZWL312,878,57721,702,4549,683,9495,259,7755,718,613
Grand TotalZWL685,037,01361,243,95133,803,44723,890,95029,395,618