British American Tobacco (BAT) experienced a 15% decline in sales

Zimbabwe Stock Exchange-listed British American Tobacco (BAT) experienced a 15% decline in sales volumes in the half year ended June 30, 2023, owing to scarcity and continued devaluation of the Zimdollar. This comes after the government put in place policies to tightly guard money supply in a bid to curb the inflation leading to a scarcity of the local currency in the economy. In a statement accompanying the financial results, the group chairperson Lovemore Manatsa said high exchange losses of ZWL$201 billion led to a loss before tax of ZWL$5,1 billion in the period under review.