RYAN CHIGOCHE
Unifreight Africa Limited has acquired 50 new trucks and trailers for an undisclosed amount as it seeks to grow more revenue for the business.
Group CEO, Robert Kuipers, told shareholders at a meeting last week that the company has received 10 trucks and the balance is expected soon.
“Looking forward despite what some might see as an uncertain economic future for the country we are very positive as a business we know that we will thrive. We are looking to the addition of another 50 trucks and trailers to regain the truck load market share but also to contribute to our core business,” Kuipers said.
He also announced a new technology the group has acquired for its fleet.
“We are heavily focused on innovation and technology. We have a new regularised android device, an application called mobile control to be carried by all drivers to assist in accurate deliveries and route optimisation as well as giving real time feedback on delivery times,” Kuipers said, adding the new technology “will also assist in our goal of becoming e-commerce enablers with direct consumer deliveries”.
Unifreight’s investment drive comes at a time players in the transport and logistics are adopting the latest technology to overcome challenges and dynamics brought about by the Covid-19 pandemic.
The sector was one of the hardest hit as movement between countries and cities was curtailed as the government declared lockdown to curb the spread of the virus.
In its financial results for the six months to June 30, 2022, Unifreight reported a 30% increase in revenue to ZWL$4.5bn from ZWL$ 3.5bn recorded in the prior comparable period.
The increase was driven by volumes, which were 19% ahead of the prior period.
However the group remained in the red as its losses widened to ZWL$1.7bn in the period under review from ZWL$540.5m reported in the same period last year as the group saw a decline in yield as well as a surge in operating costs which were over ZWL$4bn in the reviewed period.
In the outlook, the group is optimistic following the acquisition of new revenue generation trucks.
Group chairman Peter Annesley also expressed confidence in the monetary policy stance, which he said would see formal business flourishing if implemented correctly.
The group is confident of recovery come year end as it pursues new revenue streams while maintaining and strictly monitoring costs.
