LOBELS Holdings has resumed operations at its Harare bakery, after a successful recapitalisation, group chief executive Mr Ngoni Mazango said last week. Five local banks - FBC Bank, CBZ Bank, NMB Bank, Metbank and Capital Bank - owed US$14 million by one of the country's oldest bakeries took over the company and invested US$4,5 million in plant refurbishment and new plant acquisition.
Zimbabwe: Lobels Holdings Resumes Operations
The Herald (Harare), 10 December 2012
LOBELS Holdings has resumed operations at its Harare bakery, after a successful recapitalisation, group chief executive Mr Ngoni Mazango said last week. Five local banks - FBC Bank, CBZ Bank, NMB Bank, Metbank and Capital Bank - owed US$14 million by one of the country's oldest bakeries took over the company and invested US$4,5 million in plant refurbishment and new plant acquisition.
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