Government of Zimbabwe cancels US$130m deal between Cold storage company and Boustead Beef

ZIMBABWE – The much-awaited US$130million Joint Venture between the Zimbabwe state-owned meat processor, Cold Storage Company (CSC) and United Kingdom firm, Boustead Beef (Pvt) Limited has been terminated following raised concerns by the investor. Zimbabwe’s cabinet had approved the deal in March last year that was going to recapitalise and revive the defunct state-owned meat processor through a Concession Agreement under Rehabilitate, Operate and Transfer (ROT) terms. According to reports by New Zimbabwe, the decision to cancel the deal was revealed by Cabinet but it is yet to be officially announced. The…

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