Omina Holdings increases dividend pay out despite setbacks in agriculture division
Image: Supplied
Tawanda Karombo
Omnia Holdings delivered a resilient performance for the fiscal year ended March 31, 2025 despite set backs in the agriculture division, which was impacted by currency issues in Zimbabwe, drought in Zambia, and the civil unrest in Mozambique.
The diversified company, propelled by its mining sector which is seeing new orders for its regional markets on the back of a rebound in copper and battery metals, achieved robust results and delivered bumper dividends.
'The agri business Zambia, Zimbabwe and Mozambique didn't perform well,' Seelan Gobalsamy, CEO of Omnia told Business Report in an interview.
'Zimbabwe had the usual currency issues and a lot of uncertainty (and) we had some regulatory challenges and in Zambia, we saw a massive drought that impacted revenue.'
The unrest that rocked Mozambique in 2024 and early into this year also affected Omnia. The company had to send products via Namibia into Zambia as routes through Mozambique were disturbed by the unrest, impacting working capital and profits negatively.
With strong performance from Agriculture RSA and mining segment, Omnia's revenues for the year to the end of March grew 2.7% to R22.82 billion. Mining has emerged as Omnia's strongest business from an outdoor projective.
'There is still a strong demand for metals, you know, the metals that drive that transition to cleanar energy, you know, the battery metals, uranium. So we are positively disposed to the mining market and we are winning new customers, renewing new customers,' explained Gobalsamy.
Headline earnings per share increased by 1% to 704 cents, while operating profit remained unchanged at R1.7bn despite the inclusion of the Chemicals restructuring costs, along with the impact of severe drought conditions and currency depreciation in Agriculture Rest of Africa.
The Mining segment delivered an improved operating margin of 12.4% from 12.1%, supported by strong performance from Mining RSA and Mining International, as well as higher throughput and efficiencies.
In the mining sector, sustained demand for critical minerals supporting the global energy transition, underpinned exploration activity and supported positive fundamentals for the explosives market.
However, geopolitical tensions and trade policy uncertainty presented ongoing risks.
The group had a net cash balance of R1.77bn was down from R2.3bn.
The board declared a total dividend of 675 cents per share for the year. This comprises an increased ordinary dividend of 400 cents, from 375 cents the prior year, and a special dividend of 275 cents per share, returning R1.1bn to shareholders.
"Despite persistent macroeconomic headwinds, Omnia delivered sustained profitability and continued to create long-term value for shareholders. This performance reflects the strength, quality, and growing diversity of our portfolio, underpinned by a sharpened focus on manufacturing efficiency, supply chain resilience, and customer-driven innovation," Gobalsamy said
"The increased ordinary dividend payout, and special dividend declared is a clear signal of our confidence in the sustainability of our earnings and the successful execution of our growth and diversification strategy."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
3 days ago
- IOL News
Foskor executive remains suspended after firearm threats in boardroom charges withdrawn
Foskor is a South African phosphate producer and fertilizer manufacturer. It mines and beneficiates phosphate rock at Phalaborwa in Limpopo, from where it is carried by rail to the production facility in Richards Bay in KwaZulu-Natal. Image: Supplied Suspended vice president for human capital and corporate affairs at Foskor, Vincent Matlala, has alleged that criminal charges laid against him earlier this year for pointing a firearm at a colleague had been concocted by a disgruntled subordinate at the State-Owned Entity. Matlala's assertions come in the wake of the charges being withdrawn last month at the Midrand Magistrate Court late last month. Speaking to Business Report this week, Matlala, said he had lodged a disciplinary and misconduct grievance against a colleague for processing inappropriate payments to employees who were ineligible for such benefits, including dubious travel claims and other serious allegations of misconduct. Foskor is a South African phosphate producer and fertilizer manufacturer. It mines and beneficiates phosphate rock at Phalaborwa in Limpopo, from where it is carried by rail to the production facility in Richards Bay in KwaZulu-Natal. Matlala said he had not faced any allegations of corruption from Foskor pertaining to his conduct or relating to the failed 2019 Kopano Foskor Employee Share Ownership Plan (ESOP) as he joined Foskor in 2023, though he confirmed playing a role in its resuscitation. "Indeed, I was hard at work to resuscitate the Employee's and Host Communities's Empowerment Share Scheme, and records on the work I have done on this are available from Foskor; the majority shareholder IDC, as well as from the engagement sessions I facilitated with with rightful beneficiaries of the Empowerment Scheme, including Employees' Trustees, as well as Host Community Trustees," Matlala said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading However, he said there has never been charged with wielding a firearm in the boardroom nor in the employer's premises. "The SAPS investigated the matter, resulting in court proceedings where the charges made against me were withdrawn as such charges were baseless and unfounded," he said. "The employer also subjected these allegations to an independent forensic firm, where I was cleared of allegations made. I was relieved of my duties pending these investigations, and I cooperated fully with the investigators." Foskor group manager corporate affairs, Vhontsia Ramashia, said Matlala remains on suspension pending an internal disciplinary process into allegations of misconduct. "This process is entirely separate from any criminal proceedings, which fall outside the company jurisdiction. This is being addressed strictly in accordance with company policy and the highest standards of corporate governance. No further comments will be provided," Ramashia said. As Matlala waits for the outcome of the internal review, he is adamant about correcting what he perceives as a smear campaign against him, rooted in his attempts to address misconduct within the enterprise. According to Matlala, he lodged disciplinary and misconduct allegations against a payroll manager for a variety of financial misconduct allegations. "I invoked disciplinary steps against him for serious misconduct, including processing material undue payments to certain employees; dishonest travel claim for himself; and other allegations," Matlala said. "He rebelled against these disciplinary steps by lodging unfounded allegations of misconduct against me with the employer, as well as with the SAPS." BUSINESS REPORT
IOL News
6 days ago
- IOL News
OK Zimbabwe secures vital $20 million lifeline amid challenging retail landscape
For OK Zimbabwe, the plan for revival plan includes securing a financial package to turnaround the company. This month, OK Zimbabwe raised $20m through a rights offer, the company said Monday. Image: Tawanda Karombo/Independent Newspapers Troubled retailer, OK Zimbabwe has secured a financial life-line pivotal to its revival bid under new management. The company, which competes in Zimbabwe's retail sector against Pick n Pay, Spar and other smaller players, intends to raise as much as $30 million to revive its struggling retail operations. OK Zimbabwe's battle for survival comes against the backdrop of wider wholesale and retail sector challenges that include monetary challenges and pricing distortions that are driving away suppliers. For OK Zimbabwe, the plan for revival plan includes securing a financial package to turnaround the company. This month, OK Zimbabwe raised $20m through a rights offer, the company said Monday. 'The rights offer was fully-subscribed through a combination of shareholder take-up and shares taken up by the underwriters in accordance with the underwriting agreement,' said Margaret Munyuru, OK Zimbabwe company secretary. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Shareholders in the company subscribed to 77% of the rights under offer, helping to raise $15.3m. The remaining 23% was snapped up by the scheme's underwriters, who put in $4.6m. The OK Zimbabwe rights offer opened July 21 and closed August 4, the company said. Focus for the company's revival and capital raise has now shifted to the disposal of some property assets. This will help it to raise about $10m. Over the past two years, Zimbabwe's retail sector has faced a challenging operating environment. Retail operators in Zimbabwe say 'a key impediment to viability has been S.I 81A of 2024, an exchange control act that mandated the selling of goods and services at the official exchange rate,' analysts at IH Securities noted recently. They also cited elevated production costs as well as sporadic operating liquidity squeezes in light of the tightening of monetary conditions as hobbling retail operators and manufacturers that supply store operators. As part of its turnaround strategy, OK Zimbabwe is raising capital ' to bridge the funding gap and stabilize the company's financial' position. The funds will be used to 'ensure smooth business operations' and strengthen the company's balance sheet and liquidity position. After 'experiencing significant operational and financial difficulties arising from both endogenous and exogenous factors, driven by a challenging operating environment,' OK Zimbabwe has seen its financial performance nosedive. It blamed this on a difficult operating environment characterized by 'macroeconomic volatility, including pricing issues related to the exchange' rate. OK Zimbabwe argues that informal players that now dominate Zimbabwe's economy 'operated without this constraint, giving them a competitive' advantage. Volumes and revenue in top Zimbabwean retailer, OK Zimbabwe fell by 36% during the lucrative quarter to end of December, with the company, rocked by de-stocking and store closures.
IOL News
08-08-2025
- IOL News
How community sports can rebuild South Africa's economy and future
Dr Nik Eberl is the Founder & Executive Chair: The Future of Jobs Summit™ (Official T20 Side Event) .He will be writing a regular column in Business Report. Image: Supplied In a nation where more than 60% of the unemployed are under the age of 35, South Africa stands at a defining crossroads. Yet hidden beneath the grim statistics lies a playbook for hope - one that doesn't begin in boardrooms or policy briefs but on the dusty fields, township courts, and school playgrounds where dreams are born daily. South Africa's global sporting triumphs - our back-to-back Rugby World Cup wins, world-beating track stars like Wayde van Niekerk, and champions like Dricus du Plessis - are not isolated miracles. They are symbols of a deeper truth: we are a nation brimming with raw, untapped talent. But talent alone is not enough. What South Africa needs now is a bold, coordinated national effort to invest in community sports as a driver of youth engagement, job creation, and economic growth. Just as the sports academies of New Zealand, Brazil, and Kenya have created pipelines of global excellence and industry ecosystems, so too can South Africa turn its sporting passion into prosperity. Sport Is Not Just a Game - It's an Industry The global sports economy is worth over $600 billion. From training academies and nutrition specialists to media rights, data analytics, merchandise, and tourism, sport is a full value chain. Yet community sports - particularly in under-resourced areas — remain informal and fragmented in South Africa. By formalising and funding grassroots sport, we can unlock a new generation of jobs: coaches, referees, sport psychologists, event planners, physiotherapists, equipment suppliers, content creators, and youth development officers. The township netball coach becomes a mentor and entrepreneur. The football tournament organiser becomes an SMME owner. Multiply that by 100 communities, and you ignite an entire ecosystem. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Youth Belief is Built Through Play We don't just have an unemployment crisis - we have a belief crisis. Many young South Africans no longer believe they have a future. But sport restores that belief. Community sports teach discipline, teamwork, goal setting, and resilience. Studies show that youth who participate in sport are 40% more likely to finish school, and significantly less likely to engage in crime or substance abuse. Through structured sport, we provide not only activity but identity and aspiration. We turn passive youth into active citizens - and even future leaders. A Strategic Investment, not a Charity Case Investing in community sports should not be seen as CSI - but as nation-building infrastructure, no different from roads, hospitals, or broadband. A scalable community sport strategy could include: Youth Sport Hubs: Multi-purpose venues in townships, rural areas, and inner cities, combining sport with skills development, coaching certification, and entrepreneurship incubation. Local Sport Festivals: Monthly tournaments backed by municipalities and sponsors, generating jobs for event managers, vendors, and performers. Public-Private Partnerships (PPP): Corporate sponsors fund community leagues in exchange for talent pipeline access, brand exposure, and tax incentives. National Volunteer Corps: Train and pay stipends to thousands of youth as community coaches, referees, or equipment managers, similar to how the health or teaching sectors use auxiliaries. The economic multiplier effect is enormous: each youth employed in a community sport role supports multiple dependents, reduces social burden, and contributes back into the economy. From Kicking Balls to Creating Startups The sports value chain is a gateway to entrepreneurship. With the right digital tools, a young sports photographer in Soweto can build an Instagram portfolio, land gigs, and eventually employ others. A teen who organizes a 5-a-side tournament can learn logistics, sales, budgeting, and branding. This is where platforms like mobile payments, content creation apps, AI coaching tools, and livestreaming meet the grassroots hustle of our youth. What's needed is not just funding, but access to networks, mentors, equipment, and technology. And this is where business, government, and civil society must collaborate. Legacy Lessons from 2010 - and Now LIV Golf We've seen this work before. In the build-up to the 2010 FIFA World Cup, South Africa launched a nationwide Brand Ambassador Programme, training over 500 000 service employees in the hospitality sector. Community involvement skyrocketed, and the boost to local tourism and infrastructure left a lasting footprint. Now, with the announcement of LIV Golf's arrival in South Africa in 2026, we have another golden opportunity. But the true win lies not in the luxury hospitality suites - it lies in linking the elite tournament to grassroots golf development, caddie training, tourism SMMEs, and township youth clinics. It's time we move beyond one-off events and build sustainable sport-to-economy pipelines. Conclusion: It's Game Time for South Africa Community sport is not a panacea - but it is a catalyst. When structured, supported, and scaled, it becomes one of the most cost-effective ways to combat unemployment, reignite belief, and build inclusive prosperity. We already have the passion. We already have the talent. Now we need a national game plan - one that doesn't just develop players, but builds communities, businesses, and futures. Because when the whistle blows, it won't be the scoreboard that matters most - it will be how many young South Africans still believe they can win. Action steps for government, business and communities For government: Allocate 5% of infrastructure budget to building Youth Sport Hubs in underserved areas Offer tax incentives for companies that fund community leagues and sport-based job creation Integrate sport entrepreneurship modules into TVET and school curriculums For business: Adopt-a-Club model: sponsor one local club with kits, coaching, and branding Build sport-related supply chains (printing, nutrition, marketing) around tournaments Offer internships and mentorships for sport-adjacent roles: social media, analytics, event planning For communities: Register local clubs and leagues with provincial federations Collaborate with schools to run shared sport programs and weekend leagues Use WhatsApp and social platforms to showcase talent and attract sponsors Dr Nik Eberl is the founder & executive chair: The Future of Jobs Summit™ (Official T20 Side Event). He is the author of Nation of Champions: How South Africa won the World Cup of Destination Branding. *** The views expressed here do not necessarily represent those of Independent Media or IOL. BUSINESS REPORT
