HomePoliticsPolitical considerations ruled out in takepart deal

Political considerations ruled out in takepart deal

Staff writer

BUSINESSMEN Kenneth Musanhi and Ray Kaukonde, directors of Takepart Investments, were selected to take over Amzim’s shareholding in Natfoods because of their strategic impor

tance in the agro-processing concern, the Zimbabwe Independent has learnt.

ABCH, financial advisors to Takepart, this week said the rationale underlying the Amzim restructuring was to align its investments portfolio with that of its parent company, Anglo American, in pursuit of being a natural resources business with an international outlook, and the empowerment of indigenous businessmen.

This is contrary to a report carried by the Independent on July 4 suggesting that Zanu PF functionaries had budged into National Foods and Innscor.

The report also mentioned Minister Nicholas Goche and Elliot Manyika as shareholders in Takepart.

The financial advisors said an important consideration throughout the transfer of shares to Takepart was the continued facilitation of emerging indigenous businesses entering the Zimbabwean mainstream economy, in a way that better secured the future of National Foods. For that reason ABCH chose Musanhi and Kaukonde.

“It is a fact that the Takepart consortium is led by Kenneth Musanhi and Ray Kaukonde,” the advisors said. “As far as we are aware the two directors have attained that status as bona fide businessmen who were willing to take the financial risk. We do not believe that political affiliation was ever a consideration,” ABCH said in a statement this week. Musanhi owns bus-manufacturing plant Dahmer, agricultural plant equipment merchants Sabata Holdings and Musanhi Transport.

Kaukonde owns Amalgamated Motor Corporation among a myriad business interests. The two businessmen are also successful commercial farmers in their own right who started their businesses before the inception of government’s fast-track land reform programme in 2000.

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