Villagers buy stake in Sable Chicken

THE Zimplats Mhondoro-Ngezi-Chegutu-Zvimba Community Share Ownership Trust has bought a 33 percent stake in Sable Chicken Processing Company.

This will see people in the communities covered by the CSOT providing about 60 percent of all chickens packaged for sale by the company.

The Trust, which was bankrolled to the tune of $10 million by platinum giant Zimplats, has supported several community projects.

Speaking during a media tour of the platinum company’s Bimha and Mupani mines here yesterday, Zimplats head of corporate affairs Mrs Busi Chindove said the CSOT helped in social development in line with the Zim-Asset economic blueprint.

“In terms of poverty alleviation, the Mhondoro-Ngezi-Chegutu-Zvimba Community Share Ownership Trust has bought 33 percent shareholding in Sable Company which is into poultry production,” said Mrs Chindove.

“What that does is link the community to the commercial business. This means that communities in the three districts will provide 60 percent of the chickens to the company under that commercial arrangement.”

This has resulted in tangible benefits in the communities.

The CSOT has realised more than $1 million return on investments in various sectors of the economy over the past two years.

Part of the $10 million paid out by Zimplats as its pledge to the trust under Indigenisation and economic empowerment laws was invested largely on the money market.

The trust realised $560 000 in 2014 and a further $886 000, bringing the cumulative figure to $1,46 million.

Classroom blocks have been constructed at 18 schools, while several schools and clinics have been electrified through projects that are generated from the communities themselves.

“The projects are benefiting the communities in a tangible manner through collaborative effort pitting various stakeholders for the overall upliftment of people’s lives,” said Mrs Chindove.

More than 5 000 of the mine’s workers have a 10 percent stake in the mine in line with Government’s indigenisation and economic empowerment laws.

In support of the infrastructure cluster under Zim-Asset, at least 3 000 housing units have been constructed with workers joining on a voluntary basis.

With the company’s workers average age at 35, it means the majority of them drawn from Mhondoro-Ngezi own houses at a younger age.

The Zimplats’ Mhondoro-Ngezi-Chegutu-Zvimba Community Share Ownership Trust is one of the most functional in the country.