LISTED sugar producer,
Speaking during the presentation of financial performance recently, SACL chairman,
"Our subsidiary, Gold Sugars Harare produced 32 047 tonnes of refined sugar compared with 35 791 tonnes produced in prior half year. The slowdown was due to the acute power shortages experienced in July and
SACL is one among many companies in the country whose production has been severely affected by the electricity shortages which have seen electricity cuts being experienced for around 18 hours a day.
Mutizwa added that despite the power situation having improved after the establishment of a ring fenced power supply arrangement, the tariff being charged under the scheme is too high.
The situation has prompted many firms to adopt solar energy or have resorted to paying electricity in foreign currency but nevertheless, the situation remains tough for the manufacturing sector.
However, despite the obtaining challenge, SACL realised a turnover for the period under review amounting to
The increase was on the back of changes in the product mix as well as the necessary inflation related price adjustments aimed at preserving the company's ability to service the market.
Earnings before Interest, Tax, Depreciation and Amortisation went up to
SACL said it aimed to pursue an aggressive export strategy to counter the challenges being experienced locally.
"The major growth strategy for the Company hinges on export markets that include existing
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