Zimbabwe’s Cold Storage secures $400 mln investment from Boustead Beef

Zimbabwe-based Cold Storage Co. (CSC), a beef producer with refrigerated warehousing, has secured about $400 million in capital commitments from its newly found strategic partner.

The investments, that will be spread over the next five years, came from Boustead Beef Zimbabwe, part of UK-based meat processing company Boustead Beef.

With the net funds, Cold Storage has bought machinery worth about $16 million and is awaiting delivery to its headquarters in Bulawayo.

CSC, which is also repairing infrastructure at its ranches, intends to spend about $3 million to set up a state-of-the-art information technology system for the whole process from the farmer right through to the product on the shelf.