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THE Zimbabwe Federation of Trade Unions (ZFTU) said yesterday it has intervened to stop the victimisation of workers at CAPS Holdings for leaking to the media that they have not been paid for almost two years.The pharmaceutical firm owes its workers, salaries and allowances for the past 21 months due to under-capitalisation, massive debts and alleged mismanagement.
Last month management at the firm allegedly threatened workers with suspensions for leaking the information to the media, leading them to approach the ZFTU for protection.
The majority of workers at the pharmaceutical firm are affiliated to the ZFTU.
ZFTU president Alfred Makwarimba told New Ziana the plight of the CAPS Holdings workers would be resolved soon.
“Hearings are underway with the workers and the employer at the moment to resolve the issue. By the end of this week they will be done and a conclusion will be reached,” he said.
Last month workers at the pharmaceutical company held management hostage at the Harare head office demanding their dues.
At its peak, CAPS Holdings used to manufacture 75 percent of essential drugs in the country and was once listed on the Zimbabwe Stock Exchange.
It shut down four years ago due to undercapitalisation, massive debts and allegations of management malfeasance.
In 2013 the High Court ordered the sale of CAPS Holdings (Ltd) head office through a private treaty after an initial disposal of the property was reversed following a $1. 5 million bid by Chinese investors.
The company owes CBZ Bank $4 million.
Businessman Fred Mtandah is the controlling shareholder of the company which is involved in the manufacture and distribution of drugs. – New Ziana.
Online Reporter