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Gold glitters for Zimbabwean luxury crocodile skins supplier...
25 Sep, 2025 14:12
321 min read
Zimbabwe's Padenga Holdings is reaping major benefits from its 2019 diversification into gold mining, as high bullion prices now far outshine its core crocodile skin business. Its gold unit, Dallaglio, contributed a massive 94% of the group's $130.68 million revenue, driven by a 36% surge in gold prices. This led to a 204% increase in half-year pre-tax profits, with the company investing further to ramp up gold production. In contrast, demand for luxury crocodile skins has slowed, leading to cost-cutting and the closure of one farm. The strategic shift to gold has proven highly successful, providing a crucial hedge against volatility in the luxury goods market....
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