Cottco anticipates year-end breakeven despite El Niño

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COTTCO Holdings (Cottco) expects to break even by the end of its fiscal year in March 2024, despite facing challenges caused by the El Niño weather phenomenon and tight liquidity conditions, the company said in an update this week.

Like other Zimbabwean companies, Cottco has been affected by the tight liquidity situation in the economy. While unable to fully access credit facilities, the company said it settled 83 percent of farmer payments in US dollars and 18 percent in local currency, with the remainder expected to be cleared by March 2024.