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Levi Mukarati in Masvingo
Cabinet will next week approve an investor to partner Government in reviving the Cold Storage Company (CSC), as the new administration continues implementing a raft of measures to resuscitate companies and boost economic performance.
The development comes amid indications that the Cabinet approval will be a precursor to the signing of a deal between Government and the investor.
President Mnangagwa yesterday said necessary interventions had been set in motion to revive CSC, which during its days ran abattoirs countrywide and employed thousands of people.
The President was responding to questions from journalists at CSC Masvingo after touring the company before addressing a mega rally in Mucheke.
“We don’t need to look back, we have to look forward. Looking forward, the process of resuscitating the plant is now in progress,” he said.
“Next Tuesday, in Cabinet, we are approving the investor who has chosen to partner us in the Cold Storage Company. So far I am informed that the (Tongat) Hullet group has already committed to supply 2 000 cattle per month, the balance will come from the rest of other farmers in the region.
“And of course, I think you are aware we have Command Livestock programme which, again speaks to increasing the supply of cattle to our Cold Storage Company. We will make sure the approach is holistic and comprehensive.”
Later on, President Mnangagwa told multitudes of supporters at a rally held at an open space next to Mucheke Stadium, that the new Government’s thrust was economic revival hence the concerted efforts to bring CSC to its feet.
He said it was Government’s hope that CSC Masvingo would resume operations at the end of next month.
“Since the coming in of the new Government, we said economy first, business first and jobs first,” said President Mnangagwa.
“There is the Cold Storage Commission that used to employ many people, almost 500 here in Masvingo alone. On Tuesday, we are signing an agreement with an investor that we met when I went to Davos (Switzerland).
“We met an investor whom we presented opportunities available in the country and they took our issue into consideration.
“So next week on Tuesday, they will be giving us the money to revive the Cold Storage Company so that it gets back to full operations. We had a tour of the company where senior managers there told us that they have already started preparing for the resumption of operations.
“Employees have already been recruited and we hope that on July 31, a day after voting in national elections, we should see the opening of CSC Masvingo.
“We are saying, let us concentrate on issues that uplift the economy of the country and create jobs.”
CSC Masvingo is the biggest abattoir in the country and during its operating years, employed over 6 000 workers.
Early this year, the National Social Security Authority expressed interest to revive the company stating that it was prepared to pour $18 million into the venture.
President Mnangagwa has been on a countrywide drive to identify companies for revival as he pushes his agenda to stimulate economic activities.
The country had suffered from a subdued economy for nearly two decades, owing to unpopular policies of the previous Government led by Mr Robert Mugabe.
Online Reporter