Friday, May 17, 2019, 07:47

After more than a decade in limbo, beef farmers are back in business. Zimbabwe's famed beef industry, which collapsed in the 2000s following outbreaks of foot-and-mouth disease, is now rebounding. Global beef exports resumed in 2017, 10 years after they slowed to a crawl when the country's economy tumbled. In addition to the foot-and-mouth disease, the beef industry had been hit by crippling economic sanctions imposed on the country by Western nations, which contributed to hyperinflation, huge foreign debts and obsolete transport fleets. Mismanagement of livestock farms worsened the situation. Government is now seeking to revive the nation's most strategic asset by actively wooing investors. The country's top commercial farmers, whose herds of livestock were decimated, are slowly returning. A joint US$48 million cash injection by private investors from Rwanda, Switzerland and the United Arab Emirates is revving up the beef industry, which in 2018 also benefitted from a US$130 million investment partnership deal between Zimbabwe's state-owned beef processing firm, the CSC, which is Zimbabwe's foremost beef processing agency, and the UK-based company Boustead Beef, an international beef processing company.


No comments yet.
(*) Required fields