a’s business empire now faces the real test of a collapsing economy under the management of his children.
Details of the sorry state of Muzenda’s business empire were revealed during a secret sequestration hearing into the insolvent estate of the late Vice President’s company Chekesai Goods Transporters (Pvt) Ltd, incorporated in 1991.
The hearing was held two weeks ago at the Civil Court in Harare.
The haulage company used to transport goods throughout the SADC region and was also involved in moving bulk fuel to Muzenda’s Murefu Service Station along Simon Mazorodze Way.
Sources said a number of top-ranking Zanu (PF) and business leaders were subpoenaed by the hearing and asked to confirm whether they owed the company any cash.
The late vice-president’s filling stations and shops at Zvavahera and Chinyika business centres in Gutu, are now a pale shadow of their past.
A security company registered as Experts (EGGS) Securities, run by Muzenda’s business front Sam Mabika, is also teetering on the brink of collapse.
Creditors say the once-famous Paradise Park Motel at Mpandawana Growth Point is now “hopelessly insolvent” with liabilities far outstripping assets. – Own correspondent
30.11.2006
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Muzenda’s dynasty collapses (30-11-06)
HARARE - The business empire of the late Vice President Simon Muzenda is threatened with total collapse due to poor corporate governance, a lack of transparency and a muddied shareholding, which has cast a pall over the tightly knit family business dynasty.
Without the political influence, Muzend
Without the political influence, Muzend