CAPS Holdings on the brink of collapse

HARARE – Central African Pharmaceuticals (CAPS) Holdings is on the brink of collapse after the High Court Sheriff ordered the sale of some of its assets to pay money owed to the Commercial Bank of Zimbabwe (CBZ).

Nehanda Radio was not able to get the amount owed to CBZ but we understand controlling shareholder Fred Mtanda and his partners have about 9 days to rescue their giant factory in Harare’s Southerton industrial area.

The property is comprised of a drug manufacturing plant, a three-storey administration block with 47 offices, kitchen, bar with dispensary sections, packaging section, coldrooms, receiving bays and a clinic. The auction date has been set for June 14, 2013.