United Refineries gets ready for listing status

Mr Busisa Moyo

Mr Busisa Moyo

Business Editor
DIVERSIFED agro-processor United Refineries Limited (URL) is repositioning itself in the market on the back of growing business as it moves towards initial public offering grade.

“The latest thinking in United Refineries as the company repositions itself in the market place and prepares for the initial public offering, which is also called a listing in the next three years, the board and management believes the customer is at the centre of our plans,” URL chief executive officer, Mr Busisa Moyo, said.

Initial public offering (IPO) refers to a process of floating shares or going public in which a privately owned company is transformed into a public company.

IPOs are usually used to raise new equity capital for a concerned firm or monetising investments of private shareholders such as company founders or private equity investors to enable easy trading of existing holdings.

The Bulawayo-based firm has been on an aggressive drive since 2012, after suffering semi-shut-down, and recently increased capacity and added numerous lines to its product mix with latest being mealie-meal and vegetable juice.

Two weeks ago URL officially launched its rebranded Roil cooking oil and fortification programme in line with Government’s nutrition policy and unveiled its new “Unity” mealie-meal product. The firm also manufactures bathing and washing soap as well as stockfeed.

URL is one of the few oldest surviving companies in Bulawayo. According to Mr Moyo, URL was founded by a Jewish family called the Levin brothers in 1935. The company has a long journey having survived multiple dispensations and challenges with a long history of resilience and fortitude in producing a range of products, said Mr Moyo.

The company was on semi-shut down during the difficult years of 2008 through 2011 and revived its operations in earnest in 2012 and 2013. Mr Moyo credited the successful turnaround of URL to the diligence and commitment by the company’s workers and capacity boost from shareholders. Going forward he said URL was positioning itself to be a health conscious firm seeking to satisfy national nutrition needs.

“We don’t just want to supply food to our customers, we want to bring lasting nutrition to our users and to our fans, we already bring high hygiene to our end users and we believe our customers deserve not only a clean environment but also a healthy body in a clean environment,” said Mr Moyo.

“We believe our clients want a partner like us to help them access nutrition and neutraceutical products that will keep them active and happy.”

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  • zibulo

    This guy mfoka Moyo is being credited with “turning around ” URL, a very old established company which produced mealie meal, flour , etc on a large scale at very affordable prices , even during the days of Food Subsidies back then in Rhodesia. Question i always ask is Why is this guy being credited with the “success”of URL/Blue Ribbon Foods Ltd. URL/Blue Ribbon Foods only lowered production around the tough ZANU years due to the economic/political environment, and if all was ok, the same owners would again return it to the glory days. Dont tell us about company highjackers that they “are successful”business people. I am not jealous of Moyo, like some said , i only take offense to people who CLAIM to be successful only because they are ZANU . John Nkomo the late highjacked Astra Buildings and it was a pompuos ceremony as if he had built it, Lobels bakery fellinto some hands and also food quality is not what the Lobel Brothers baked . If these guys who highjack business have money and “business acumen”why dont they add to WEALTH by creating new establishments. We know, love and have always eaten Blue Ribbon/URL foods for decades . and the name stillstands because of GOODWILL-the vaue to a name associated with QUALITY back then. If he bought it , fine . Or is he a stooge for the Real Looters/Owners in ZANU. One day we will know

    • Letsbereal

      I think sometime because of sheer ignorance or maybe jealousy we fail to read the full story.As far as i have know Busisa ,he is not connected to any political party!!this man is simply a business man who is concerned with seeing a change in the way business is done.Why does everything have to be Zanu funded!!!URL does not have any Zanu boardmember sir.Gets facts right.We need to change our mentality as Zimbabweans and not always think that everything is run by Zanu.Wether or not it was once blue ribbon the fact that its still operating and employing is good enough for us!!As far as i read crdeit to the turn around of that company was given to the workers and customers and not Moyo.so let us support good zim companies that are actually keeping people employed.

      • zibulo

        i might be ignorant of other facts but have been around since Rhodesia and was mature at independence, saw and lived through all Rhodesia and ZANU propaganda years , lived through Gugurahundi , war vet times, mad land reform time , bearer and bond note times even when Zimbos were penniless, to date. i have seen economic development and economic destruction, economic propaganda, now when you are so loved by this paper like Moyo, hayi bo , kukhona okutshaya amanzi. wena wazi kangakanani usitshele ? i believe and still do that i am correct, prove me wrong. i have seen entreprenurs who ADD to GDP, not those who are involved in Wealth Transer, tats why this paper also “praises” and highlights CHOPPIES as if we do have our own ever efficient TM,OK Spar chains, just because its major shareholder is a ZANU guy. vuka mfowethu, we need economic growth , not economic propaganda.

  • God of War

    This guy shaves like hulk hogan.

    • Bret the Hitman Hart

      Very right I remember Hulk Hogan from the Rick Flair and Randy “Macho man” Savage era.

  • Brutal Truth

    Busisa Moyo has captured The Chronicle

  • Essexvale

    Sharp Busani!