CFI Holdings to rely on imports

ZIMBABWE Stock Exchange-listed agriculture-based industrial holding company, CFI Holdings Limited will rely on imports of maize and soya for the next half year due to the erratic rains received during the 2021/22 agricultural season.

In a financial report for the year ended September 30, 2022, CFI chairperson Itai Pasi said rain unreliability during last year’s agricultural season reduced the demand for agro-inputs.

“Over and above the erratic rains, the country experienced a midseason drought, resulting in a significant decline in local agricultural output,” Pasi said.

This story is for NewsDay subscribers.