Cafca wins CASE award CASE publisher Mr Jono Waters (left) gives FBC chairman Mr Herbert Nkala the first copy of this year's edition
CASE publisher Mr Jono Waters (left) gives FBC chairman Mr Herbert Nkala the first copy of this year's edition

CASE publisher Mr Jono Waters (left) gives FBC chairman Mr Herbert Nkala the first copy of this year’s edition

Happiness Zengeni Business Editor
A manufacturing company, Cafca, was last week awarded the Central African Stock Exchanges (CASE) Company of the Year award for the Zimbabwean market showing consistent profits and overcoming challenges.

The cable manufacturer headed by Mr Rob Webster, recorded the sixth best share price gain on the Zimbabwe Stock Exchange, rising a healthy 78,6 percent.

Promoter of the CASE handbook Mr Jono Waters, told guests attending the launch last week that Cafca had consistently posted profits even in a dollarised environment.

“This company is in its fifth year of post-dollarisation profitability, operating machinery that consumes a good deal of Zesa’s overpriced electricity.”

In its interim results published released recently, Cafca once again turned in an 8,9 percent increase in attributable earnings on the back of a 41,4 percent rise in revenue.

“No part of the operating environment favours this company and almost certainly without the right leadership, it would have gone the way that many others have in this country,” said Mr Waters.

Bindura achieved the best share price performance in 2014 (220 percent) while TA Holdings, Hunyani and Willdale all enjoyed triple

figures. Starafrica was up 80 percent, but it is not apparent that a sustained turnaround has yet been achieved.

Mr Waters added that there were several contenders for the Company of the Year award, all of which were in the manufacturing sector.

“Yes, manufacturing. Our three finalists this year showed that we can manufacture in this country and my personal view is that failure is mostly down to poor management.”

The two runner ups were Natfoods, which recorded a 70 percent rise in its share price last year, and is still up 49 percent on the same date a year ago and Afdis, 56,7 percent up on the year and 66,7 percent year on year.

These are some of the pictures from the launch of the handbook, which has been dubbed Zimbabwe’s Corporate event of the year.

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