AgricultureCompanies

Cottco to clear outstanding debts owed tome growers

THE Cotton Company of Zimbabwe (Cottco) is focusing on restoring commercial viability of the entity, pledging to clear outstanding payments owed to growers for the white gold.

The recent takeover of Cottco by the government is anchored on the need to restore business confidence with the focus on the mobilisation of resources to clear outstanding debts owed to growers.

Outlining the 2021 vision, Cottco chairman Sifelani Jabangwe said focus will be on increasing output to 300 000 metric tonnes from the current 85 000.

“All is in the pipeline regarding how we can maximise production and accelerate growth in the short to long term,” he said.

The firm almost went into liquidation in 2014 after the management declared the entity technically insolvent.

However, the government through input subsidies helped the entity to get back to operational efficiency. 🔺

Source
ZBC
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Back to top button
0
Would love your thoughts, please comment.x
()
x