Home » Zimbabwean executive Basil Dionisio gains $2.68 million in two weeks

Zimbabwean executive Basil Dionisio gains $2.68 million in two weeks

by Omokolade Ajayi

Zimbabwean businessman and leading executive Basil Dionisio has recorded a $2.68-million gain in his stake in the past 14 days, as shares in Simbisa Brands Limited, a Zimbabwe-based quick service restaurant (QSR) group, surged by more than 40 percent.

Simbisa Brands is the first branded QSR group to establish a successful pan-African footprint.

Under the leadership of Dionisio, the CEO of the group, the Zimbabwe-based business currently operates 513 QSR restaurants in nine countries across Africa with future ambitions of further expansion in the region.

Aside from his leadership role in Simbisa Brands, Dionisio holds a substantial four-percent stake amounting to 22,484,058 ordinary shares in the group.

As of press time, Jan. 14, shares in Simbisa Brands were worth ZWL128.4 ($0.399) on the Zimbabwe Stock Exchange.

This is 19.97-percent higher than their opening price on the local bourse this morning. 

Data gathered by Billionaires.Africa revealed that since the start of the year, the group’s stock price has increased from ZWL90 ($0.2795) at the closing of business and trading on Dec. 31, 2021 to ZWL128.4 ($0.399) at the time of drafting this report.

This price movement accrued a total 42.7-percent gain for shareholders since the year began. 

As a result of the recent price bump, Dionisio’s four-percent stake has increased from a valuation of ZWL2.02 billion ($6.28 million) at the beginning of 2022 to ZWL2.89 billion ($8.97 million) at the time of writing.

This accrued a total ZWL863.4-million ($2.68 million) gain for the multimillionaire businessman in two weeks.

The recent surge in the market value of his stake cements his position as one of the richest investors on the Zimbabwe Stock Exchange.

In 2021, the Zimbabwean businessman recorded a $5.36-million surge in his stake thanks to a 581-percent increase in the share price of Simbisa Brands in 2021.

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