CFI to resolve land bank issues

CFI Holdings (CFI) says it will maintain its efforts to resolve all issues affecting its interests in its land banks to make way for progressive, orderly infrastructure development and service delivery to various settlements.
The diversified group said its long-term focus remains directed towards the development of low-cost housing delivery in Harare South in support of the government’s Vision 2030 development goals.
The firm’s inflation-adjusted revenues increased by 245,7 percent to $201,99 billion for the year ended September 30, 2023 from $58,43 billion in the previous year, reflecting the mismatch between rapid inflation of the Zim dollar during the year as compared to the subdued official inflation statistics.
Retail activities made up 76,3 percent of group turnover overall, followed by milling operations at 20,1 percent and farming operations at 3,4 percent.
Conversely, the group’s operating loss before financing costs, depreciation and impairment surged by 1,706.6 percent to $123,67 billion from $6,84 billion previously.