So there’s this “prominent businessman and farmer” with what appears to be a chequered history, rife with allegations of smuggling and fraud, theft, arrests and trials and convictions and even disappearing witnesses.
Going back as far as 2004, Cecil Muderede has been in the news for all the wrong reasons, being put to trial for various economic crimes, being accused of fleecing the GMB of billions of dollars, being accused of smuggling basic commodities, threatening government officials … lots of shit.
Mr Muderede, having survived the trials and tribulations of his brush with the law, managed to make himself a bucketload of money, and decided to spend it wisely.
So last year he bought Jaggers, once one of the leading distributors of fast-moving consumer goods.
Muderede gained a controlling equity of the wholesale giant after buying out the previous major shareholder, Metcash Africa, a South African company, through his investment vehicle Borlscade Investment (Pvt) Ltd.
Today, Jaggers went under.
Ruby Auctions will Thursday officially wind up Jaggers Wholesalers’ business with a stock clearance auction after it successfully held the first one last week where furniture and other household goods were sold.
So this is indiginesation a la ZANU-PF? This guy took over a profitable entity which was paying its workers, had housing schemes and more, and ran it into the ground. Nice work, dude.
Just like we did with the farms, taking over a thriving industry and burning it into ashes, we shall do with the companies, and reduce what’s left of our workforce to thieves and paupers.
Where are the champions of indigenisation in all this? Not a peep from Supa, Saviour and Chapfika while this former giant of Zimbabwe retail goes under.