Source: Government takes steps to revive CSC – herald
Nqobile Bhebhe, nqobile.bhebhe@chronicle.co.zw
THE Government, through the Ministry of Finance, Economic Development and Investment Promotion, is seeking consulting firms to provide Transaction Advisory Services to diagnose, design and support the bankable turnaround plan for the Cold Storage Company Limited (CSC), a critical entity in Zimbabwe’s livestock value chain.
CSC, once a major player in the country’s beef industry and export markets, is viewed as strategic to the revitalisation of the livestock sector and the broader agricultural economy.
In a notice, the Government said the consultancy will be funded under a programme supported by the African Development Fund aimed at reforming State-owned enterprises.
“The Republic of Zimbabwe has received financing from the African Development Fund toward the cost of the Institutional Support for State Enterprises Reform Project (ISSER) and intends to apply part of the agreed amount for this grant to payments under the contract for Consultancy Services to provide Transaction Advisory Services for Cold Storage Company Limited,” reads the Government notice.
Authorities said the consultancy will focus on developing a sustainable turnaround strategy for the company while exploring opportunities to expand export markets and optimise its assets.
“The overall objective of this assignment is to diagnose, design, and support the bankable turnaround of CSC & Wetblue, including real estate portfolio optimisation and export market development across the Middle East and Asia, coupled with an implementable supply strategy (owned cattle vs contract farming).
“The assignment is expected to be executed in two (2) phases in a six (6) month period.”
The Government said the advisory process is part of broader reforms targeting improved performance and sustainability of State enterprises.“The Government of Zimbabwe, through the Ministry of Finance, Economic Development and Investment Promotion, now invites eligible Consulting firms to indicate their interest in providing these services.”
The revival of CSC is expected to boost the livestock value chain, enhance beef exports and strengthen incomes for cattle farmers across the country, while supporting Zimbabwe’s agricultural transformation agenda.
For years, the collapse of CSC created a major gap in Zimbabwe’s livestock value chain, leaving thousands of cattle farmers without a reliable formal market and weakening the country’s once-thriving beef export industry. By bringing in a specialised advisory team under the African Development Fund-supported Institutional Support for State Enterprises Reform Project (ISSER), Government is demonstrating a structured and deliberate approach to rebuilding the institution on sustainable and bankable foundations.
Late in 2025, CSC officially exited corporate rescue following the successful implementation of the turnaround measures to revive one of the country’s most iconic agro-industrial assets.
The development signalled the successful conclusion of a lengthy recovery process initiated to restore CSC’s operations and protect jobs after years of financial distress that nearly brought the once-vibrant beef exporter to its knees.
The corporate rescue proceedings of CSC ended with effect from October 16. It meant that operational control of the Bulawayo headquartered company is now handed back to its management and board.
CSC has been struggling to sustain profitable operations over the past years and faced the risk of liquidation as creditors demand their dues.
Mounting debts and accusations of poor management and alleged corruption, among other factors, had dragged the company into insolvency, while an increased risk profile made it difficult to attract fresh investment or working capital.
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