Andrew
Online Reporter
CFI Holdings says it expects the mining and construction industries to buoy the group’s performance going forward, on the back of anticipated activity in the two sectors.
The mining sector is vital in driving the economy, through direct and indirect linkages with other key sectors.
On the other hand, Government through its various arms, has been rolling out a range of infrastructure projects encompassing roads, dam construction, agriculture, housing, and energy infrastructure.
The aforementioned activities have been propelling business activity for manufacturers and retailers that sell mining and construction accessories.
“Local and global inflation headwinds and steep exchange rate disparities in the local market are expected to characterise the trading environment in the short-term.
“This is expected to depress disposable income and spending to year-end, save for mining and construction sectors of the economy, where improvements are expected,” said CFI in its trading update for the third quarter to June 2022.
Zimbabwe’s exchange rate has been stabilising in recent months as Government’s measures continue to take effect.
Online Reporter