- CFI Holdings’ Q3 2025 revenue rose 9.9% to ZWG 675 million, driven by a record tobacco harvest and stronger agro-input demand
- Sales volumes at Agrifoods surged 13.9%, outpacing other subsidiaries through adaptive strategies and strong demand for stockfeed
- Despite growth, CFI continues to face margin pressure from informal traders
Harare - Diversified agricultural conglomerate, CFI Holdings Ltd, has posted a solid set of results for the third quarter ended 30 June 2025, buoyed by a rebound in Zimbabwe’s agricultural sector and resilient performances across key subsidiaries, despite intensifying competition from the informal retail market according to the latest trading update.
The period under review was characterised by a relatively stable macroeconomic climate, underpinned by the Reserve Bank’s continued focus on maintaining price and currency stability while supporting growth.
A normal to above-average 2024/2025 rainfall season spurred recovery across the farming sector, with the tobacco industry delivering a record all-time high of 353 million kilograms sold.
‘’The tobacco marketing season particularly reported a record all-time high, with three hundred million kgs sold, boosting demand of agro-inputs,’’ the group said.
The surge in output boosted agro-input demand and created a favourable backdrop for CFI’s operations resulting in total revenue rising 9.9% to ZWG 675 million, up from ZWG 614.15 million in the same period last year.
In terms of volumes performance, Agrifoods emerged as the top performer, registering a 13.9% increase in sales volumes compared to the same period in 2024
The company attributed the growth to improved aggregate demand for stockfeed products and agile market responsive strategies that have helped it retain and grow market share in a highly competitive environment.
Farm & City Centre (FCC) trailed with a 9% growth in sales volumes, supported by the agriculture sector’s rebound and long-standing supplier partnerships that ensured the stability of key revenue drivers and the ongoing product diversification efforts.
Glenara Estates, CFI’s farming arm, successfully commenced its summer crop harvest and maintained robust potato production, securing 7.4% higher selling prices compared to the prior year.
The estate also sustained its cattle breeding and pen-fattening projects under joint operations, which continued to deliver reasonable results.
However, on the downside Victoria Foods faced a more challenging quarter, with sales volumes dipping 3% year-on-year due to grain shortages stemming from last year’s drought and the late start to the 2025 maize harvest.
Looking forward, the Group maintains a cautious outlook on the trading environment, pointing to the persistent dominance of the informal sector, which continues to erode the market share of formal businesses despite renewed government crackdowns on illegal operators.
In markets such as Mbare, for instance, traders offer products identical to those sold by CFI at substantially lower prices, attracting customers who prioritise convenience and affordability over the quality assurances associated with formal retail channels. A wide range of agricultural equipment is available in both settings, including shovels, which can sell for about US$5 in Mbare compared to over US$10 in formal outlets.
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