GOVERNMENT LIQUIDATES CASHEW NUT COMPANY
Another Western Province dream dies – Barotse Cashew company liquidated
The Barotse Cashew Company, one of the companies that was set up to drive up economic activity for western Province has been placed under liquidation and its assets have been offered for sale to the general public.
Western Province, one of the bottom two poorest regions of Zambia by economic activity, has had Cashew nuts production and processing identified as one of the key Agribusiness activities that could revamp its economic fortunes and provide jobs for the youths.
According to a notice of sale of equipment seen by the Zambian Business Times – ZBT by liquidator Reeds Advisory Services, Barotse Cashew Company of Mongu assets that include 50 kg bags of Cashew nuts, Cashew nuts processing equipment and utensils have been offered to the Public for sale.
Western Province had been identified as having great production potential for Cashew nuts. Zambia’s northern neighbor, Tanzania in 2022/2023 earned about $230 million in cashew nuts.
By Zambian Business Times.
Very scanty details. Liquidation is a legal provision in the companies act. The author is practicing poor journalism or is it due to lack of investigative skills.
Ma lozi….see what happens when you spend too much yapping instead of working….
Forming associations to make noise, while your friends form associations to make money. Kuuzima