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Mooto Holdings Limited has announced the closure of its Mooto Foods Limited Mwembeshi Farm, reportedly resulting in the loss of employment for 56 workers due to the high operational costs driven by ongoing power deficits in the country.
Founder and Chief Executive Officer, Mwala Mooto, expressed regret over the closure in a statement issued on Thursday, citing ZESCO loadshedding as a key factor in the unsustainable operational expenses during the financial year 2024.
Mooto explained that the business, which had expanded from a small poultry farm selling chickens at Soweto market in 2018 to a medium-sized operation producing over 10,000 chickens, could no longer bear the escalating costs.
“We would like to inform our customers and key stakeholders of our decision to shut down operations for Mooto Foods Ltd Mwembeshi Farm due to unsustainable operation costs,” Mooto said.
Despite the setback, Mooto revealed that the Mwembeshi farm infrastructure would be repurposed for a new venture, Mooto College of Business.
The company decided to shift focus to its Senanga farm, which operated entirely on solar power.
Mooto assured partners that while agricultural operations at Mwembeshi had ceased, Mooto Holdings Limited would remain active in the agricultural sector.
“Entrepreneurship has both successes and failures, and I guess it’s one of those points where I look at myself in the mirror and admit that this one is a failed project and move on,” Mooto stated.
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