All Red Star Holdings branches in Zimbabwe closed shop in 2009 after failing to recover from the liquidity crunch and hyper-inflationary environment that characterized the local economy in 2007 and 2008.
Now the company is running under new management and looking to reengage all employees who were still at work when the company closed.
Deputy Prime Minister Thokozani Khupe presided at the official opening of the company’s Bulawayo branch on Friday. The Group chief executive, Ken Sharpe, said: “We are very lucky that we took over a company that had its workforce and we will build on the back of a vastly experienced staff. We will employ about 1000 people and this means everyone who has been working for the company before is guaranteed a place.”
Sharpe said the company planned to open 31 branches countrywide with its headquarters remaining in Harare.Post published in: Business