News / Local
Council's commercial undertakings performing above average
19 Jan 2014 at 03:33hrs | Views
Bulawayo City Council has revealed that the city's commercial undertakings were performing above average.
The city's town clerk, Mr Middleton Nyoni revealed that, save for the City of Kings business venture, the city's commercial undertakings were performing above average and it was their hope that this year they would be declaring dividends to the council.
"Ingwebu Breweries, in particular, is doing fairly well. There has been stability in terms of their operations and we expect that this year they will be declaring a dividend to the local authority.
"It is, however, unfortunate that City of Kings business venture is going through turbulent times. They recently approached us for some financial and technical assistance that is why we are currently looking at the whole business model to see how we can intervene because as you might know some of these ventures are profitable while others are struggling," said the town clerk.
City of Kings runs council entities which include Mzilikazi Art and Craft Centre, Caravan Park, Umguza Nature Reserve and Mazwi Nature Reserve.
In 2010, Ingwebu Breweries was forced to close down 16 beer gardens located in the high density suburbs after they faced various viability problems and the Bulawayo City Council further turned down the brewery's application for a loan.
The following year the brewery leased out some beer halls to private individuals but some still remained closed, with speculation rife that council was mulling turning some of them into flea markets and morgues.
The city's town clerk, Mr Middleton Nyoni revealed that, save for the City of Kings business venture, the city's commercial undertakings were performing above average and it was their hope that this year they would be declaring dividends to the council.
"Ingwebu Breweries, in particular, is doing fairly well. There has been stability in terms of their operations and we expect that this year they will be declaring a dividend to the local authority.
City of Kings runs council entities which include Mzilikazi Art and Craft Centre, Caravan Park, Umguza Nature Reserve and Mazwi Nature Reserve.
In 2010, Ingwebu Breweries was forced to close down 16 beer gardens located in the high density suburbs after they faced various viability problems and the Bulawayo City Council further turned down the brewery's application for a loan.
The following year the brewery leased out some beer halls to private individuals but some still remained closed, with speculation rife that council was mulling turning some of them into flea markets and morgues.
Source - sundaynews
