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News Khayah Cement enters corporate rescue proceedings

Khayah Cement enters corporate rescue proceedings

Written by Global Cement staff 02 January 2025
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Zimbabwe: Khayah Cement has initiated corporate rescue proceedings due to the impacts of Western-imposed economic sanctions, which have created an ‘untenable’ business environment, according to The Chronicle. The company adopted a resolution on 20 December 2024 to start the rescue process under the Insolvency Act, to address its financial difficulties. The sanctions have reportedly hindered access to essential resources, affecting the company’s production capabilities. Khayah Cement said that further processes will be communicated to creditors and stakeholders.

Last modified on 08 January 2025
Published in Global Cement News
Tagged under
  • Zimbabwe
  • Khayah Cement
  • Sanctions
  • insolvency
  • GCW691
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