Sefalana's growth dented by recession

The company, which holds total or part equity in Sefcash, Foods Botswana, MF Holdings, Kgalagadi Soap Industries and Commercial Motors has released a subdued set of interim results for the six months ended 31 October 2009 as the challenging macroeconomic environment resulted in lower spending and squeezed volumes and margins.

Distribution Subsidiary Sefalana Cash & Carry Limited (Sefcash) turnover dropped by 4 percent as the introduction of the 30 percent alcohol levy, a significant reduction in cross-boarder trade principally with Zimbabwe and Zambia, diminished overall performance.