Proxenta struggling in Cuba

Proxenta Cuban Investments (Pavol Kožík) reported a €2.9m profit for 2024, a sevenfold annual increase, but its Cuban biscuit factory is still operating at only half of its planned capacity. Revenues at factory operator Proxcor, in which the Cuban government holds a 49% stake, fell 29% last year to $11.5m. Four years ago, Proxenta raised hundreds of thousands of euros from small investors for the project and promised them a 15% dividend on their original investment in 2026. It is now talking about only 3%. Some disappointed investors are represented by controversial businessman Pavol Krúpa.

(sme.sk)