Mangudya to remodel US$130m CSC deal

Mutapa Investment Fund (MIF) head John Mangudya says he plans to shake up the US$130 million joint venture (JV) deal between Cold Storage Company (CSC) and the United Kingdom-based Boustead Beef.

In  an exclusive interview with the Zimbabwe Independent, Mangudya, the former Reserve Bank of Zimbabwe Governor who now heads the sprawling business empire set up to control high profile State firms, said crucial parts of the 2019 JV had not been met, and CSC — formerly one of the region’s biggest meat processors — remained in the doldrums.

“We have identified that we need to deal with the joint venture, which is not functioning the way it was expected,” Mangudya told the Independent during a trip to the Bahamas last week.

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