Pindula
Register Login

Local Company To Retrench 2 000 Workers Due To U.S. Sanctions | Report

Local Company To Retrench 2 000 Workers Due To U.S. Sanctions | Report

Fossil Group, the parent company of Fossil Agro and Fossil Contracting, is reportedly set to retrench 2 000 employees after it was added to the United States sanctions list on Monday.

Businessman Obey Chimuka, Fossil Agro, and Fossil Contracting were among four individuals and two companies that were placed on the list for their association with businessman Kudakwashe Tagwirei.

Tagwirei and his company Sakunda Holdings were added to the sanctions list in 2020.

NewZimbabwe.com reported a source as saying the group, which currently employs 3 000 people, has cited foreseen viability challenges as a result of the sanctions. Said the source:

As early as this morning (Tuesday), a meeting was held where it was hinted that more than 2 000 employees will lose their jobs.

The meeting was centred more on reasons why the organisation had been sanctioned, especially considering that the main issue which had been picked up in the circular was the owner’s relationship with Tagwireyi.

It was agreed that sanctioning of Fossil Group was biased as the company was not even the main beneficiary of any project it was currently involved in; from road construction where Bitumen World and Masimba Holdings lead.

In command agriculture, there were more than 10 firms supplying inputs and Fossil Agro was not the only company government contracted, nor was it the largest. FSG which is white-owned was the largest company.

Zimbabwe says the sanctions are hurting the country’s economy but the U.S. disagrees, saying corruption and wrong priorities are the problem. | NewZimbabwe.com

Share Article

Sponsored

25 Comments

Sir Zimbabwe 1 month ago

2000 against 12 millions unemployment 😀😀😀😀


Borr 1 month ago

2 000 + thousands more vakamiswa mabasa kune mawe macompany ari palist remasanctions. Zimental slave reUSA, manje uchafira muZimbabwe. America uchangoionera paTV @Sir Zimbabwe

Worzell Gummidge 1 month ago

Fossil Agro is a briefcase company or shell corporation of tender-preneures who use their political connections to get government tenders and then subcontract real companies to do the real work. Has anyone ever seen 3 000 workers at the offices of Fossil Agro?

Has the ZANU PF government stopped giving Command Agriculture tenders & Pfumvudza contracts to Fossil Agro? If not, then how are they affected? Was Fossil Agro, importing from or exporting anything to the USA?

This is just cheap propaganda. Sadly some gullible fools will believe this sheet.

war vet 1 month ago

Thats a lie you were added 2 days ago and you are already affected magara muchida kudzinga vanhu now you have found an excuse zvino varume vacho havasi kudzora tsvimbo ava dont lie that you have been sactioned because you are associated to tagwirei the CIA would have done a lot of investigation and they know much more than we know they are not ****


Chimboti Pizza 1 month ago

@war vet, zvinoda vanhu vanonzwisisa business izvi. Mubusiness munoitwa forecast yemaFuture challenges pogara paiswa solution

Chiurai 1 month ago

Ndimi maiti vanhu 4 vane basa rei. Now 2000 face an axe


1 month ago

Sactioned yesterday, and today announcing the retrenchment of 2/3 of the workers.... That's propaganda.

Mdc 4ED 1 month ago

Half of Zimbabweans are NOT brain dead

mubhabhatidzi 1 month ago

ichokwadi here kut vanhu vese varikungoti Morocco forED


chokwadi 1 month ago

ichokwadi


Propaganda 1 month ago

Propaganda


@chiurai 1 month ago

Where did you do your economics these guys were sactioned two days ago and already they have come up with a figure 2000 for retrenchment this is done to woodwink people like you so that you think its sactions which is making us suffer they gave each other US$500k and US$350k and they put US$14k solar panels on their houses whilst the rest of are living the dará. this is our money its taxpayers money the looting is endless and and unprecedended even mugabe was not this corrupt this is primitive accumulation of wealth wake up you people


Sponsored

fossil agro 1 month ago

why associating with already sanctioned people see the consequences you have a hand in evil doings


@ 1 month ago

*dark*


1 month ago

Vanga vachishaya pekupomera kuti vadzinge vanhu mabasa nenyaya dzekusa bhadhara vashandi voti masanctions


1 month ago

That's propaganda and it's worst.... What business was done by this company with US citizens before?


👤 1 month ago

hakuna zvakadaro,shuwa sanction ravapihwa nezuro uno vakutodzinga vanhu nekuda kweizvozvo


pk 1 month ago

chekumirira hapana. matononoka kuvadzinga. dai mukanyatso ongorora vanhu ve CCC varimo mucompany mudzinge vese. ndokuti vaziwe chinonzi sunction

@pk 1 month ago

brain dzako it's a sanction to your life

abx 1 month ago

panosara pasina vanhu vozodii cz vanozviziva kt akuna munhu akakwana ano supoter zanu

Dofo 1 month ago

hanzy it was hinted not kuti vakutovadzinga


Cde hondo 1 month ago

2000 worker's vapi vacho. Only delta and econet has capacity to employ that number outside government


USA 1 month ago

A woman walks out of the shower, winks at
her boyfriend, and says, "Honey, I shaved
myself down there. Do you know what that
means?" The boyfriend says, "Yeah, it means
the drain is clogged again."


Mdc 4ED 1 month ago

Tagwirei made a deal with gvt to buy buses and be reimbursed at astronomical profit. Not sure if he was paid but zupco yadhakwa, obviously that affected mukomana. He won many construction tenders but hurumende yacho haisi kubhadhara. No more money laundering thru zupco, or roads projects. Mining kana usati wamboita mukorokoza unobirwa capital yacho. Conveniently then comes sanctions.


Mutsvangwa auraya chembere nepfumvudza veduwe 1 month ago

Kkk lyf Soo apa he enjoys $500000+$500000 yakapihwa compined neyemukadzi wake
Kkkk USA$ 1 meter



Leave a comment


Recent News


News Categories



Feedback