Online Reporter
Nqobile Bhebhe, Zimpapers Business Hub
Tsebo Zimbabwe (Private) Limited is set to convene a meeting with its creditors and other affected persons to consider and vote on a proposed corporate rescue plan.
The proposed plan was developed by the appointed Corporate Rescue Practitioner, Mr Clyton Kazembe of AMG Global Chartered Accountants (Zimbabwe), as part of ongoing efforts to revive the operations of the company.
“All Creditors and Affected Persons are hereby informed that the Corporate Rescue Practitioner has developed a Corporate Rescue Plan (‘Plan’) for the above-mentioned company and calls upon the Creditors and Affected Persons who have had their claims proven and accepted to attend the meeting to consider and vote for the Plan,” reads part of the notice.
“The aforementioned corporate rescue plan was prepared after consulting creditors, other affected persons, and management of the company in terms of Section 142(1) of the Act.
“A copy of the Plan has been circulated and shared with the Creditors and Affected Persons. The meeting, which shall be convened in terms of Section 143 of the Act, shall be to present the plan to the Creditors and Affected Persons and afford same an opportunity to make representations regarding the proposed plan and to vote on the proposed plan,” added the notice.
The meeting is scheduled to take place on 4 November 2025 in Harare.
Corporate rescue, also known as business rescue or judicial management, is part of Government’s broader strategy to rehabilitate distressed but economically significant companies.
It is regulated under the Insolvency Act, which replaced the old Companies Act (Chapter 24:03).
The model has become an increasingly preferred intervention to safeguard key national assets, preserve jobs, and maintain productivity across various sectors of the economy.
