On September 26, 2024, Canaf Investments Inc. (TSXV: CAF), a corporation based in Vancouver, British Columbia, released its Financial Statements and Management Discussion and Analysis for the 9-month period ending July 31, 2024. The company also announced the establishment of a new subsidiary in South Africa.
During the 9-month period, Canaf Investments Inc. reported revenue totaling CAN$24,959,020 (compared to CAN$21,285,662 in 2023) with a net income of CAN$1,524,784 (compared to CAN$1,382,244 in 2023). The trailing earnings per share as of July 31, 2024, was recorded at CAN$0.05/share. Shareholder equity as of July 31, 2024, amounted to CAN$10.9 million, resulting in a book value per share of CAN$0.229/share (compared to CAN$0.172/share in 2023).
In August 2024, Canaf Investments Inc. established a new wholly owned subsidiary, Canaf Capital (Pty) Ltd., in South Africa. Canaf Capital’s primary focus is to provide capital for short-term, asset-backed financing to support growth in various sectors in South Africa. The subsidiary will operate in partnership with the Alternative Finance Group (AFG), a reputable group that offers asset-backed short-term financing to businesses and entrepreneurs in South Africa. Canaf Capital aims to allocate approximately CAN$1.9 million by January 31, 2025, generating returns of up to 2.25% per month.
For detailed information on the financial results and strategic developments, interested parties can access the Financial Statements and Management Discussion and Analysis on Canaf Investment Inc.’s website or through the SEDAR portal. Canaf Investments Inc. is a publicly listed company on the TSX-V Exchange, with headquarters in Vancouver, Canada, and operations in the United Kingdom and South Africa. The company owns subsidiaries engaged in various sectors, including coal production and asset management.
This press release contains forward-looking statements that involve risks and uncertainties. Canaf Investments Inc. is not obligated to update or alter any forward-looking statements provided. The company acknowledges operational, political, currency, and geological risks that may impact its future operations and financial performance. The TSX Venture Exchange has not reviewed or endorsed this release’s contents. Additional information can be found on the original press release through this link.
