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While Shoprite and Pick n Pay in South Africa can leverage their sales on products like furniture and hardware, Zimbabwean supermarkets rely on agricultural products.
The placement of the Cold Storage Company under a corporate rescue plan to facilitate its revival has raised one fundamental question: Where does Boustead Beef, the British company that had promised to invest US$130 million into the operation, fit in? Another crucial question is: Is the government rescuing the CSC or Boustead Beef? The government
Boustead Beef, which entered into a US$130 million joint venture agreement with the government to revive the Cold Storage Company at the beginning of 2019, blocked Ngoni Kudenga who was appointed the company’s corporate rescue practitioner in December last year from accessing the CSC’s financial records. Instead, the Boustead Beef with the help of lawyer