MORE ATTENTION NEEDS TO BE GIVEN TO THE COLD STORAGE COMPANY (CSC)

Portia Chinyahara 

10 february 2014

espite the use of mult-currency and rumours of more foreign notes to be introduced in Zimbabwe, investors want to bail out Cold Storage Company (CSC). this is because they feel that the company is solvent and cannot continue to operate in the different areas of the country.

 Deputy Agriculture minister Paddington Zhanda told Parliament last week that discussions with some investors had started to operationalise the CSC depots in Masvingo, Kadoma, Marondera and Chinhoyi. Currently, the CSC only has one functional branch – Bulawayo.many factors haveled to this development.
“The Cold Storage Company was not given money for it to function properly. So, we are looking into the issue so that the Cold Storage Company gets some funding. We are even looking to outside donors who are interested so that it will start functioning,” Zhanda said.

however the cold storage has not been functioning well since the 2008-9 economic break down that the country faced. the CSC was affected by black markets that were taking over most of the businesses. the companies bought its inputs from farmers at very low prices and the farmers would prefer selling  their live stock to illegal markets.since then the company has never got up to its feet as the economy itself was improving slowly. the  money allocated to the CSC was not enough to get it operating again. and maybe the only company functioning properly in Bulawayo is  because its located in the region where livestock  especially cattle do well and the prices are fair too.

Minister Zhanda was responding to questions raised by members in the House of Assembly on what measures the ministry had introduced tostop farmers at CSC branches who were owed money by the company and had started to take some assets from the companies in order to  recover their money.
 This is happening in Kadoma, so the minister is going to hold two meetings with the board of the Cold Storage Company, debating on what can be done
however there is need for the main branch in Bulawayo to work with other branches all over the country in order to improve on the operations as well as covering most of the company's debts.
 The government at teh same time has to give more money to such companies and try to fight corruption that has led most industries to close down.