Zimbabwe scouts for investors to bail out CSC

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GOVERNMENT has started scouting for investors to bail out the cash-strapped Cold Storage Company (CSC), Deputy Agriculture minister Paddington Zhanda told Parliament last week.

By Victoria Mtomba
Business Reporter

Zhanda told the House of Assembly that discussions with some possible suitors had started to operationalise the defunct CSC depots in Masvingo, Kadoma, Marondera and Chinhoyi. Currently, the CSC only has one functional branch – Bulawayo.

“The Cold Storage Company was not given money for it to function properly. So, we are looking into the issue so that the Cold Storage Company gets some funding. We are even looking to outside donors who are interested so that it will start functioning,” he said.

Zhanda was responding to questions raised by members in the House of Assembly on what measures the ministry had introduced to curb vandalism taking place at CSC branches as some farmers who were owed money by the company had reportedly resorted to asset stripping to recover their money.

“What I can say about what is happening in Kadoma is that there is vandalism and stripping of property. Let me say that we have not been quiet on this issue. “Since I started in this ministry, I have had two meetings with the board of the Cold Storage Company, debating on what can be done to resuscitate the fortunes of the Cold Storage Company.

“Again this week, I am going to meet the board in Bulawayo so that we can look for ways and means of solving the Cold Storage Company problems,” he said.
The CSC is one of the parastatals earmarked for restructuring under the government restructuring programme.

The programme was however stalled midway due to government dred tape.

11 COMMENTS

  1. Investors will only come on board when the mess at CSC has been cleaned. Can the Deputy Minister identify correctly CSC ‘s problems. Is it lack of money or systematic looting ? This matter requires a thorough investigation Minister.

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  2. ZANU has a habit of destroying things nehumbavha then look for investors to fix their mess. But mainvestors seem to be too clever for ZANU. They dont buy into that rubbish. The Chinese refused to be given SMM on a platter for a company yakabiwa monzi isai mari zvinhu zviite bho, and then monzi chitipai 51%. Why do you destroy in the first place? WHY CANT YOUR RUN THINGS PROFESSIONALLY? Whats wrong with you thieves?

  3. CSC yakadyiwa mari and now it is run by varungu in Bulawayo who took over the deal to import mombe from Botswana,someone in hurument gave a government to government deal to Koalor Meats to buy mombe in Bots and sell to butchers,This deal was meant to benefit indigenous business people,esp black butchers to buy beef at low price and sell at reasonable prices to hard hit black majority of Zimbabwe,so deputy minister don’t tell us you need investors when you busy eating with the whites at CSC

  4. I know this song too well.Nothing will be done.This is just politicking and Csc workers will wait till kingdom come for the compny to be resuscitated.Mark my words,i was there.

  5. I SUSPECT ZIMBABWE HAS LEADERS WHO HAVE THE LOWEST IQ IN THE WORLD DESPITE BEING HIGHLY EDUCATED NEMA BA KWETE EMANAGEMENT OR WE HAVE PLAIN CROOKS FOR LEADERS,PROBLEMS STARTED AT CSC WHEN I WAS A BOY TWENTY YEARS LATER AM A GROWN MAN,IS SOMEONE BENEFITING FROM CSC PREDICAMENT THE ANS COULD BE YES,WHY KEEP IT JUST SELL IT LOCK STOCK AND BARREL EVEN FOR A TOKEN FEE AND LET THE PRIVATE SECTOR RUN IT CAUSE SOON IT WILL BE OBSOLETE.

  6. CSC was given a nice deal by the government of Botswana, what did they do, got the cows killed them sold them to Europe and ate all the money without paying a cent to the people who had given them the cows and cash to kick start a very handsome deal.

    But as usually they F****ked it up.So who in his right mind will invest in a dead horse.

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