MAKOMO Resources has successfully exited business rescue following the restructuring and settlement of obligations to creditors.
The coal miner operating in Zimbabwe’s northwestern coalfields went under administration in 2021 due to unsustainable debts and operational challenges.
“We are pleased to announce that effective 27th of February, 2025, the corporate rescue proceedings for Makomo Resources were officially concluded. With this transition, the board and management will fully regain control of the company’s operations upon the completion of the ongoing handover process,” lead corporate rescue practitioner Bulisa Mbano said in a statement.