ZFC Limited is jointly owned by the State Owned Enterprise (SOE) Industrial Development Corporation (IDC) and the publicly-listed TA Holdings, which is majority-owned by Shingi Mutasa’s Masawara Mauritius Ltd.

It is a subsidiary of Chemplex which has a 50 percent shareholding in ZFC and a 36 percent shareholding in Sable Chemical Industries. ZFC produces NPK compound fertilizers while Sable is the country's sole manufacturer of ammonium nitrate fertilizer. The Zimbabwe fertilizer industry is highly integrated and the shareholding structure effectively gives Chemplex a controlling influence. [1]

It is mentioned on p25 Cartel Power Dynamics in Zimbabwe under the Case Study 3 The Agriculture Cartels.

Further Reading

Mutingwende, B. Sakunda Justifes Command Agriculture role. Spiked, 17 March 2020
Chemplex. n.d. Our Subsidiaries. Accessed 3 July 2020. [1].
Financial Times. Masawara PLC Final Results. Financial Times, 30 June 2017
Command Agriculture 2016

  1. Chemplex Corporation Limited, Chemplex Corporation Limited Website, Retrieved: 19February 2021