Online Reporter
Martin Kadzere
BETA Holdings, currently under corporate rescue, is considering alternative strategies, including order financing production or toll manufacturing for contractors to restart production after it failed to finalise investment agreements with interested parties.
Sources close to the development told this publication that four investors had expressed interest in one of Zimbabwe’s largest brick manufacturers.
These included one from Dubai, two local investors (one of which is a local investment fund), and a Chinese company.
However, negotiations have not yet resulted in any concluded agreements.
“We are now exploring other complementary initiatives, which include order financing production or toll manufacturing, at least to restart operations,” a source, who declined to be named, said.
Another source added that BETA Bricks, which also produces concrete roof tiles and extracts aggregates, is exploring burning bricks at its Mt Hampden yard. This move aims to generate crucial working capital and prevent further deterioration of its existing stock of unburnt bricks, the source said.
