Matrix Limited is a holding company incorporated and domiciled in Guernsey, has substantial interests in petroleum products and logistics. The Company was founded in 2018 and through aggressive diversification strategy has grown to become a significant player in the petroleum sector. The company’s vision is to become the standard of excellence in providing innovative solutions in petroleum, logistics and trading in the Reunion, Mozambique, Zambia, Botswana and Zimbabwe for the benefit of its stakeholders.
REVIEW OF THE ECONOMIC ENVIRONMENT
The macro environment in 2020/21 was challenging. Covid-19 lockdowns in the territories our group services led to depressed demand.
Group revenues were down and margins were compressed in markets like Zimbabwe which saw prices being increased by the regulatory authorities resulting in negative impact on demand.
In order to manage intermediary distribution costs, the group has embarked on backward integration to being involved in handling of petroleum products upon discharge from the ships at Beira port. This is done in partnership with parties with expertise, capacity and experience.
The relaxation of lockdowns will see improvement in demand. The group strategy will remain unchanged.