CFI battling with legacy rot

CFI battling with legacy rot
Published: 22 June 2018
Zimbabwe Stock Exchange-listed entity CFI Holdings Limited, says the company has been "damaged to its knees" by the previous senior management and boards and the newly appointed board and senior management has been tasked by the major shareholders to rebuild the company.

The diversified conglomerate, predominantly involved in agro-industrial processing, has been struggling for profitability since dollarisation, making accumulative losses of more than $36 million by FY17.

This resulted in shareholder squabbles between businessmen Nick van Hoogstraten and other shareholders Stalap and NSSA. The company is currently suspended from trading on the ZSE pending further investigations into irregularities in the agro-industrial group.
- Business Weekly
Tags: CFI,


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