Categories: Stories

The sorry state of the Cold Storage Company

The number of cattle being slaughtered at the Cold Storage Company has gone down from 50 000 per month a few years ago to current levels of just under 2 000 monthly, as government struggles to get a partner to revive the ailing parastatal.

The CSC, once the biggest beef processor in Africa, has been processing between 1 000 and 1 220 cattle at its headquarters in Bulawayo since the beginning of the year while its Marondera and Chinhoyi abattoirs have been processing between 500 and 600 beasts per month.

The rest of its abattoirs are idle.

CSC, which was also in cattle rearing business currently owns 700 cattle from an average of 10 000 fifteen years ago.

“The situation is bad,” CSC chief executive officer Ngoni Chinogaramombe said.

“We are still waiting to be guided by the government when they find the investors. We gave them our turnaround strategy which they are using to scout for the investor.”

The company is saddled by a $22 million debt which has put off suitors to take over the company.

CSC was at one time was the largest meat processor on the continent, handling up to 150 000 tonnes of beef and associated by-products a year and exporting to the European Union.

But poor management and persistent outbreaks of foot and mouth, which halted exports in 2001, have led to its demise.

Private abattoirs, some of which are hiring CSC facilities, have moved in to fill the void left by the parastatal in the domestic market.-The Source

(69 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024

The Zimbabwe Gold will regain its value if the government does this…

Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…

October 16, 2024

Is Harare the least democratic province in Zimbabwe?

Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…

October 11, 2024

Zimbabweans against extension of presidential term in office

Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…

October 11, 2024

Zimbabwe government biggest loser when there is a discrepancy in the exchange rate

The government is the biggest loser when there is a discrepancy between the official exchange…

October 10, 2024