Farai Matsika is a Zimbabwean entrepreneur and business executive. He is a shareholder of Croco Motors in which he holds 30% and Doves Holdings. He co-owns these companies with Zim entrepreneur Moses Chingwena. Matsika has been the CEO of Croco Holdings, which owns Croco Motors, Premier Auto Services, Dulys Motors and Doves possibly among other business interests.

Farai Matsika
FARAI-MATSIKA.jpg
Born Farai Matsika
Occupation Entrepreneur
Known for Being shareholder of Croco Motors

Shareholder Dispute at Croco Holdings

In early 2015, Matsika, who is a cousin to the fellow shareholder, Chingwena, is reported to have made efforts to exit Croco Motors, saying that he felt crowded by new senior executives hired and that he wanted to focus on other business ventures. The senior executives had been brought in by Chingwena. Matsika reportedly offered his shares to Chingwena, subject to valuation of the business by auditors. Matsika was suspended as CEO however after he ordered a valuation of the company.[1]

High Court Judgment Chingwena Croco Matsika, 14 January, and 4 February, 2016


Insolvency in South Africa

In August 2016 Matsika was declared insolvent in South Africa by the South African High Court. The matter was heard in the High Court in Pretoria on May 9, 2016 under case number 58704/2015.[2]


References

  1. Croco Motors suspends CEO, The Herald, Published: 08 Jan 2016, Retrieved: 15 April 2018
  2. Croco Motors chief executive declared insolvent in South Africa, Insider Zim, Published: 24 Aug 2016, Retrieved: 15 April 2018