Cafca Q3 suffers 22% drop in export volumes

CABLE manufacturer, Cafca Limited, experienced a drop in export volumes by about 22% to 83 tonnes in its third quarter ended June 30, 2024 due to challenges in getting foreign currency for restocking.

This comes as the market has been dealing with a severe liquidity crunch caused by hawkish monetary and fiscal policies meant to control money supply growth as part of measures to support the new currency, Zimbabwe Gold (ZiG).

In a trading update for the third quarter ended June 30, 2024, Cafca said export volumes had dropped from 106 tonnes from the same period last year.

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