Zimbabwe: Govt considering resuscitating CSC

The Government of Zimbabwe through the Lands, Agriculture, Water and Rural Resettlement Ministry is considering resuscitating the Cold Storage Company (CSC) in order to bring the unit back on its feet as it has taken longer than expected to bring the operations of the entity back normal. The reconstruction model to be used allows the company to recover outside of the risk of litigation by various creditors similar to what is happening to Hwange Colliery Company Limited. The company secured an investor in November 2018 from the United Kingdom, Boustead Beef, to revive CSC and help clear an outstanding US$36 million debt accumulated over the years, a process seemingly taking long which has prompted the government to consider extending a life line to the troubled CSC. In an interview last Friday, Lands, Agriculture, Water and Rural Resettlement Minister Dr Anxious Masuka said Government was determined to make sure CSC plays a key and central role in ensuring that the livestock sector once again becomes vibrant as farmers find a market that is fair.

Liberty Pazvakawambwa

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