Cafca exports increase 30-fold


A thirty-fold increase in exports from $126.4 million to $3.8 billion in the first half of this year helped to boost Cafca’s net earnings from $326.9 million to $2.1 billion. It also earned the company an additional $2 billion primarily through exchange gains.

According to the company’s latest results, though domestic sales almost doubled from $2.1 billion to $4.1 billion, volumes were down 64 percent. Exports increased by 581 percent, but overall volume declined by 34 percent.

Total revenue increased from $2.2 billion to $7.9 billion beating that for the entire last year which stood at $6.7 billion.

The company also says it reduced its net debt by 70 percent to $144million, but it says it is difficult to predict what the next six months will hold as long as political and socio-economic fundamentals are not addressed.


Don't be shellfish... Please SHARETweet about this on Twitter
Share on Facebook
Share on LinkedIn
Email this to someone
Print this page

Like it? Share with your friends!

The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


Your email address will not be published. Required fields are marked *