Takunda Zikali

First Capital Bank Zimbabwe just released its full-year results for 2025. The numbers are impressive. But not all numbers got a perfect score. Alongside the strong operating performance is one area of deterioration that deserves attention. It does not change the overall picture, but it does change the question you should be asking going into 2026. And it tells you something important about what is happening in the broader Zimbabwean economy. See full article below!

We built 49 scenarios. We stretched every assumption in Simbisa Brands’ favour. The most aggressive combination in the entire matrix still leaves the stock 9.1% overvalued. There is no scenario in this model where the current price makes sense. None. Full coverage report now available. linkedin.com/posts/sylveste…

It’s been 15 years in consulting since March 2011 so we have just refreshed the website. Check it out here: investorsaint.com I look forward to hosting a webinar on how to get started in freelancing / consulting, polls in next tweets.

This evening we’ll discuss how to write a research proposal, thesis, conference abstract and journal article. We will also discuss the ethical use of AI in academic writing. With @nyonisdesk twitter.com/i/spaces/1pJdR…

We initiate coverage of Innscor Africa Limited with a 12-month target price of $1.72, implying 32% upside from the current VFEX price of $1.30. DCF values Beverage & Light Manufacturing Segment at $0.43/share (33.5% of VFEX price) Full report below. linkedin.com/posts/sylveste…

Understand the person you want to serve, and meet them at their point of need. @NiNanjira continues to lead us as a continent ✊🏾

@amutambara Noted thank you Prof. I have sent an email.

@mr_zikali amutambara@uj.ac.za

Thank you Chinhoyi University of Technology (CUT) for the massive attendance - A Festival of Ideas, indeed! For sure, Digital Transformation and AI are potential Game-Changers in Zimbabwe:

My next challenge is designed specifically for youth and young adults and will start in April. Whilst we will cover the usual tool + asset classes, it will lean heavily on the investment / asset class that is YOU - pathways for leveraging your education in the digital age. Follow the WhatsApp channel for updates, here's the link: whatsapp.com/channel/0029Va… #SmartMoneyTalks #GMW2026 #itwillendinwealth

Had an amazing time with the 100+ young adults who joined in various colleges around the world - Algeria the hosts, Russia, Zambia Thank you for having me as your guest, looking forward to doing this again!

My late grandmother used to say if you want to copy at least copy a good doilies pattern 😊.Made myself a youthies had a wonderful evening with Madam President my Wonderful Yaya @FinLitBae .It’s #GlobalMoneyWeek

Join us today, 8pm Zim time. #Itwillendinwealth

Attention : Youth(ies) and Young Adults I’ll be speaking to this community of Zim college students in Algeria and you too can join. AZSA is inviting you to the Global Money Week 2026 Webinar titled SMART MONEY TALKS with the KashKween on Saturday, March 21 · 7:00 – 8:30pm Time zone: Africa/Algiers (This is 8pm Harare time) Google Meet joining info Video call link: meet.google.com/nxs-crui-ehs Or dial: (ZA) +27 10 823 0766 PIN: 155 375 299# In this webinar for young adults, the Master of Coin will guide participants through a brief presentation on the mindset, toolset and skillset required to be financially well in the digital age, then treat as many questions as possible in an Open Mic Session. #itwillendinwealth

It’s #GlobalMoneyWeek With only two weeks to the completion of the quarter, this is the time to reflect and restart on new and correct money habits. Smart Money Talks are ongoing. Join us here: whatsapp.com/channel/0029Va…

@magujug Kudos for the bold step to do something to fill a gap in our society. We love to save and invest.

We got our SACCO certificate yesterday. We are ready to decentralize wealth creation by members through low-cost financing. Our goal is to make Big Buck SACCO the gateway to the Zimbabwean Dream. Every Zimbabwean deserves to be financially free.

You will spend most of your 20s and 30s behaving like what other people think matters. Then you hit 40's... The "Boys" you fought with you wife about for that night out... the "girls" that put so much pressure with their fake "perfect" lives... all fade away. Build, find your tribe. Protect it. Keep it small. Keep it accountable. None of the bars that wasted my youth are even open... well except Londoners.

Econet's Delisting: This is everything you need to know Would love to get some feedback, especially on the Econet Infraco valuation. Is there any way possible that it's worth anything close to $1 billion?

@King_Tanyah 😂😂😂😂

Mike aitoshandira Reddington paya

2025 was a good year. Much was achieved, and a significant portion of my analysis over the past 2–3 years played out as anticipated. This period also marks five years of building a track record of independent, fundamentals-driven analysis that has, on multiple occasions, preceded material market outcomes. Selected examples include: 1. OK Zimbabwe Limited (2022): I published a public investment opinion on X (formerly Twitter) and LinkedIn highlighting capital misallocation, liquidity strain, and weak value preservation despite residual brand equity. I advised capital restraint (HOLD and avoid buying shares in 2022) at a time of market optimism. By 2025, the company had undertaken asset disposals, exited non-core operations, faced prolonged stock shortages, and implemented a major management overhaul following sustained shareholder value erosion. 2. ZB Holdings / CBZ Bank proposed transaction (January 2024): I assessed the proposed acquisition and noted that it appeared driven more by control considerations than underlying banking fundamentals. Subsequent regulatory engagement imposed a condition requiring ZB Holdings to divest its stake in Mashonaland Holdings. The parties were unable to resolve this condition, and as anticipated, the transaction was ultimately abandoned. 3. Truworths Zimbabwe (February 2024): I published a valuation and solvency analysis on LinkedIn titled “Truworths Zimbabwe: A Low-Quality Asset in Fashion Retail,” questioning the sustainability of a proposed US$30 million valuation and highlighting technical insolvency risks. I estimated intrinsic equity value at approximately US$1 million. Later that year, the company entered corporate rescue and was sold to a private investor for US$1 in January 2025, resulting in a complete loss for minority shareholders. 4. ZSE Holdings Limited (July 2025): I authored an opinion article in The Zimbabwe Independent titled “ZSE US$14m Tag: Valuations Based on Vibes, Not Viability,” critically assessing the proposed listing valuation of approximately US$13.5 million. By 29 January 2026, the company’s market capitalization had declined by roughly 78% to US$3.01 million (interbank) and US$2.41 million (parallel), closely aligning with my intrinsic valuation range of US$2.5–3.0 million. 5. Ariston Holdings & Tanganda Tea Company (August 2025): I published “From Tea to Trouble: Ariston Sinks, Tanganda Struggles” in The Zimbabwe Independent, analysing funding pressures at Tanganda, including reliance on export-backed loan facilities and deteriorating liquidity. In January 2026, Tanganda disclosed a US$6.36 million funding gap and proposed an US$8 million rights issue, developments consistent with the risks l had outlined earlier. Separately, on 15 April 2025, I publicly stated on X that “Ariston Holdings is technically insolvent,” reflecting my assessment of its balance-sheet, cashflow position position and liquidity risk ( raising concerns regarding the Ariston’s ability to sustain operations). As I look ahead, I hope 2026 delivers further opportunities as I continue to scout for the next special situation, asset play, or emerging corporate failure case. Follow @SMRI_Institute for updates on potential transactions, special situations and corporate distress in 2026 and beyond.