Boustead Beef Zimbabwe - CSC March 10, 2019
In progress
May 2019

Boustead Beef BOT Terms May 15, 2019

Boulstead Beef (Pvt) Limited BOT Terms: - Raise and invest a minimum of $130 million into CSC over five years, being for both capital expenditures and working capital for the business; - Pay off CSC financial debts totalling US$42 530 597; - Pay rentals of US$100 000 per annum during the first five years of the concession agreement; - Take over and run the management of the following CSC ranches for an initial period of 25 years: Maphaneni; Dubane; Umguza; Chivumbuni; Mushandike; Willsgrove; and Darwendale; - Take over and run the management of the following abattoirs for an initial period of 25 years: Bulawayo; Chinhoyi; Masvingo; Marondera; and Kadoma; and - Take over and manage for an initial period of 25 years, the Harare, Gweru and Mutare distribution centres and residential properties of CSC.

Mar 2019

Boustead Beef Zimbabwe pour US$400 million into CSC March 10, 2019

CSC has secured a US$400 million lifeline. Boustead Beef Zimbabwe, has also invested in state-of-the-art equipment as part of efforts to bring the meat processor and marketer back to its feet.

Milestones: - Machinery worth at least US$16 million had also been procured and awaited delivery to CSC’s headquarters in Bulawayo. - The company is also repairing infrastructure at CSC’s ranches. - The first plant should be fully operational within 6 months. - They will embark on a restocking programme, and working with local communities, will introduce new DNA into the herds, through breeding programmes.