CAFCA, Zimbabwe’s only cable manufacturer, says its local volumes declined by eight percent for the first quarter that ended December 2022, with the drop being mainly in the utilities sector and factory cash sales.
In its trading update, the company said factory cash sales were down as a result of uncompetitive US dollar pricing, which has now been resolved with the change in retention rules.
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Cafca stated that utilities would pick up in the next quarter, with two of the three utilities placing new orders and the barter deal hopefully improving as the focus shifts back to harvesting rather than
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