Late Kadzura's business empire crumbles

HARARE - Agri-economist Jonathan Kadzura — who died in November 2016 — built a business empire that made him one of Zimbabwe’s most prominent and controversial entrepreneurs and amassed a personal fortune that enabled him to lead a fairly comfortable life.

JK, as he was affectionately known, had interests in Goodstorm Services, Rural Industrial Development Private Limited and Fiveoaks companies which are involved in egg-production in Marange, Mutare and Ruwa.

He also operated Pamberi Marketing and Electrical Equipment undertaking the following businesses at Marange Growth Point: Buying and selling material for rural schools and hospitals; manufacture of school chalk; assembly of sewing machines; manufacture of staple pins; retail supermarket; and manufacture of peanut butter.

He had business interests cutting across poultry and the hospitality sector, through Mountview Hotel in Mutare.

But it seems the founder-entrepreneur was the “glue” that helped to hold the businesses together.

With his death, his firms are suffering significant setbacks that have eroded their value.

Some of the firms have been declared bankrupt after the unfortunate death of the owner JK.

Just two years after his death, most of his firms are showing no sign of recovering, with some being put under final liquidation.

Among the companies are Rural Industrial Development Private Limited and Goodstorm Services Private Limited.

“Notice to creditors and contributories : Notice is hereby given that the first meeting of creditors and contributories of Rural Industrial Development will be held at 8:30am on Wednesday January 24 2018 at the Master’s House corner Hebert Chitepo and Sam Nujoma street in Harare for the purpose of transacting the following: proof of claims. In notices of final liquidation,” a notice to creditors and contributors issued yesterday said.

The liquidator for both companies was listed as Philemon Mangena.

“Rural Industrial Development (Pvt) Ltd (and Goodstorm Services) creditors are required to file claims with the Master of the High Court before the meeting takes place,” the notice further reads.  

With a Master of Science in Organisational Development from the University of Sheffield in the UK, Kadzura was highly educated, explaining perhaps, why his firms have seen substantial decline after his death, notwithstanding that he had made an effort at succession planning, with his firms under the tutelage of his son. All the same, his firms have failed to hold onto their revenues and value and avoid bankruptcy.

A swashbuckling entrepreneur, JK served on many boards including that of ZDB, Zisco, Air Zimbabwe, Hwange Colliery Company, Zesa, ZABG, Zimbabwe Defence Industries. He previously worked for ERMI, Sammie’s Bedding, Mechanical and Veterinary Equipment, Unity Wood Working and Gramma Records.

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