Sefalana feels pinch of sluggish economy

Presenting the financial results recently, the group’s managing director Chandra Chauhan said this has had an impact on consumer confidence and ultimately on spending patterns noting that it translated into difficult conditions in their sectors where groups are recording a drop in earnings.

“This year has been one of the most difficult years for Sefalana in quite some time. The economy as a whole has been somewhat depressed and the level of spending by both government and the average consumers on the street has fallen significantly,” he said.