The first ever Top Companies Survey Awards were held in 1980. The 2022 edition of the Top Companies Survey Awards was sponsored by the Financial Gazette and Old Mutual Zimbabwe. This year’s theme was ‘Innovating for Growth in a VUCA Environment’. By the way, VUCA stands for Volatile, Uncertain, Complex, and Ambiguous. In 2021, the theme was ‘From Surviving to Thriving: Reimagining Business after the Pandemic’.

The award-giving ceremony was held on the 7th of July 2022 at Old Mutual and the hosts were Barry Manandi and Miss Becky. The event was streamed live via the Old Mutual Facebook and Financial Gazette pages. Let us look at companies that walked away winners from this year’s edition, but first:

Top Companies Survey Awards Concept

The Top Companies Survey is an annual event held to honour top-performing companies on the Zimbabwe Stock Exchange (ZSE) and the best performers in the insurance and banking sectors.

The vision behind this initiative is best summarized by what Old Mutual once said: “Since the launch of the Top Company Survey, the survey has proved invaluable in promoting transparency, good corporate governance, ethical conduct, and corporate social responsibility as well as providing a platform for networking among corporate leaders and other guests”.

2022 Top Banking Institution

Winner: Ecobank

Ecobank has kept its position from last year.

First Runner Up Stanbic Bank

The same goes for Stanbic Bank as this was its position in 2021.

2022 Top Insurer Life

Winner: Doves Corporation

This is Doves Corporation’s second year in a row being awarded the Top Insurer Life.

First Runner Up First Mutual Life

2022 Best Disclosure And Investor Relations

Winner: Delta Corporation

This was its award in 2021 and they clinched it again this year.

2022 Most Improved Disclosures And Investor Relations

Winner: Hippo Valley Estates

2022 Special Mention Award

Winner: TelOne

They got this award for their efforts in disclosures, good corporate governance, and sustainability. Last year it was Padenga Holdings Limited that won this award.

2022 Best Tangible Results

Winner: Simbisa Brands

2022 Top Company Of The Year

Winner: Delta Corporation

In 2021, the winner was Econet Wireless Zimbabwe. This award recognises dominant performance in areas such as quality of earnings, financial wellbeing, leadership, corporate governance, corporate social responsibility, and environmental social governance (i.e. sustainability issues).

First Runner Up Econet Zimbabwe

The first runner-up in 2021 was Delta Corporation.

Second Runner Up: Simbisa Brands

This is the same position Simbisa Brands took in 2021.

The Top Companies Survey considers only companies that are listed on the Zimbabwe Stock Exchange. I had to mention that since some might wonder why some companies are not there. I know there are some Zimbabwean companies you might feel deserve to be recognised. Well, most of them are not listed on the Zimbabwe Stock Exchange.

The evaluation process factors in both quantitative and qualitative variables. Their evaluation model does factor in the hyperinflationary nature of the operating environment in Zimbabwe. It also factors in companies’ relevance to this operating environment. Are they increasing the quality and objectivity of their brands despite the mercurial operating environment? The latter is particularly considered when assessing insurance and banking companies.

For the 2022 edition, the judges were drawn from stockbrokers and market watchers. Old Mutual highlighted that this significantly improved their evaluation model. This year’s panel of judges was headed by Simbiso Musa, who has over a decade of experience working in Capital Markets. Writing this article I was just thinking about several things. One of them is that more or less the same companies keep winning. This is, in part, due to there being a small pool of ZSE-listed companies I suppose. I feel that opens up a conversation on the need for more Zimbabwean companies to be listed on the ZSE. What are your thoughts on this and other things that come to mind? Let us continue the discussion in the comments below.