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Zimbabwe President Emmerson Mnangagwa personally guaranteed that the government would provide $20 million for the retrenchment of Cold Storage Company workers to pave way for the joint venture partner Boustead Beef to have a clean start in reviving the ailing parastatal, according to an audio of a retrenchment committee meeting held at the CSC in ....
Boustead Beef, which entered into an agreement with the Zimbabwe government four years ago to revive the Cold Storage Company, seems to be more interested in the company’s assets than in reviving its operations. The assets are said to be worth about US$100 million today. Boustead Beef, which came in as a British investor but ....
Bulawayo lawyer, Vonani Majoko, who was the corporate rescuer of the Cold Storage Company for more than a year until he was removed on 7 January last year, says he could not revive the beef company because he had no funds except the paltry rentals he got from CSC properties. Majoko came under fire from ....
The chief executive officer of United States-based Ethos Asset Management, which said last year it would invest an undisclosed amount in CSC-Boustead Beef, was arrested last month on charges of wire fraud. Carlos Manuel Da Silva Santos, a Portuguese national, was arrested in Newark, New Jersey as he arrived in the United States from abroad. ....
Boustead Beef can no longer decide the revival plan for the Cold Storage Company alone as the company is now under corporate rescue so the future has to be decided by all stakeholders. This was said by the interim corporate rescue practitioner Vonani Majoko who said he still had to get the order confirming his ....