StarAfrica Corporation: the refinery behind Goldstar

A refiner, not a mill

Unlike the Lowveld mills, which crush cane into raw sugar, StarAfrica refines that raw sugar into white sugar. The two roles are explained on how sugar is made. Goldstar holds a leading position in the refined sugar market and is a Coca-Cola (KO) certified supplier to all Coca-Cola bottling plants in the country.

History

StarAfrica was established in 1935 as a sugar refinery and built the Goldstar brand into a market leader over the decades that followed. The group changed its functional currency to the United States Dollar on 1 April 2025.

Operations

StarAfrica runs refineries in Harare and Bulawayo with a combined capacity of 260,000 tonnes a year. Refining involves re-dissolving raw sugar, removing colour through activated carbon, re-crystallising and drying to produce white sugar at the ICUMSA 45 international standard. The company supplies industrial one-tonne bags to beverage, cordial and pharmaceutical customers alongside retail packs.

Products and brands

The core brand is Goldstar refined white sugar, sold in retail and industrial formats. The Country Choice Foods subsidiary produces castor sugar, icing sugar, golden syrup, honey syrup, maple syrup, sweeteners and snacks. Distribution extends across Zimbabwe and regional Southern African markets, including Botswana via Tongaat Hulett Botswana.

Ownership

StarAfrica Corporation is listed on the Zimbabwe Stock Exchange under the ticker SACL.

Financial performance

StarAfrica returned to profit in the financial year ended 31 March 2026, reporting a profit after tax of ZWG 36.6 million against a ZWG 122.4 million loss the previous year. Operating profit reached ZWG 27.9 million, while turnover fell 9% to ZWG 1.471 billion, and no dividend was declared. In the first quarter of FY2027, revenue rose 31%, Goldstar volumes rose 38%, and operating profit rose 58%. The independent auditor issued a qualified opinion relating to compliance matters arising from the 2025 currency transition. Read the detail in our StarAfrica results coverage.

Industry role

StarAfrica is active in the Zimbabwe Sugar Association on import protection and fortification cost issues, lobbying against illegal unfortified sugar imports.