Padenga Agribusiness has scooped the ZNCC Mashonaland Region Agriculture Exporter of the Year 2025 Award at a glittering ceremony held at the Golden Conifer in Harare last Friday.
Padenga Agribusiness Pvt Ltd is a producer and exporter of premium quality crocodile skins to the world’s luxury brands that make crocodile skin products such as apparel, handbags and belts.
Receiving the award on behalf of Padenga Kundai Murau said PAB was proud to get the recognition.
“As Padenga Agribusiness, we are humbled and proud of this prize, and we would like to thank all our stakeholders, regulators, especially, and we would like to thank ZNCC for this prestigious award,” she said.
The recognition comes hard on the heels of the sterling annual results announced by parent company Padenga Holdings in March this year. The Group recorded revenue of US $223 million in the financial year ended 2024.
The firm’s audited results reflect a 43% increase from the US$155 million recorded the previous year.
Padenga Agribusiness contributed 14% to turnover with revenue from the crocodile business for the year at US $30,43 million, having increased by 29 percent in comparison to the comparative period.
This was driven by a 69 percent improvement in the average price realised per skin, which was partially offset by the 40 percent decrease in sales volumes. Total operating costs reduced by 10 percent over prior year as cost containment measures were enhanced in response to the downturn in the skins market.
Commenting on the award ZNCC CEO Chris Mugaga praised Padenga’s adaptability, noting its ability to navigate economic turbulence while diversifying beyond traditional export markets. “Padenga exemplifies a defensive stock, thriving amid uncertainty by expanding into new markets and even venturing into mining,” Mugaga said. “Their success underscores the potential for Zimbabwean firms to excel in challenging environments.”
