Publications
Partners
Harare - Dual-listed, Zimbabwe-based entity Cafca Limited (JSE:CAC), 71% owned by electronics and electrical engineering company
Reunert [JSE:RLO], said it has submitted its indigenisation plan to the National Indigenisation and Economic Empowerment Board (NIEEB) and expects to be compliant with the country’s laws within three to four months.
Speaking at the company’s annual general meeting last Friday, managing director Rob Webster confirmed the development. “We have submitted our plan and we are working along that plan.
"Within the next three or four months, we would be compliant in terms of the targets set by them (the NIEEB),” he said.
“They are very active on keeping us on our toes. With the regulations, you comply gradually but we should be able to be compliant.”
Cafca is one of the few Zimbabwean manufacturing companies that has been recording positive results since dollarisation.
In the year to September 30 2012, the group’s revenue increased to US$23.1m compared to $18.5m in the prior year.
Cafca’s factory volumes in the four months to January increased 26%, while turnover rose 14%.
Webster said exports were up 121% year-on-year while margins were down in South Africa, Malawi and Zambia.
- Fin24
Speaking at the company’s annual general meeting last Friday, managing director Rob Webster confirmed the development. “We have submitted our plan and we are working along that plan.
"Within the next three or four months, we would be compliant in terms of the targets set by them (the NIEEB),” he said.
“They are very active on keeping us on our toes. With the regulations, you comply gradually but we should be able to be compliant.”
Cafca is one of the few Zimbabwean manufacturing companies that has been recording positive results since dollarisation.
In the year to September 30 2012, the group’s revenue increased to US$23.1m compared to $18.5m in the prior year.
Cafca’s factory volumes in the four months to January increased 26%, while turnover rose 14%.
Webster said exports were up 121% year-on-year while margins were down in South Africa, Malawi and Zambia.
- Fin24
