Harare - A former chief executive at failed South African furniture retailer Ellerines is now heading Zimbabwe's largest fast food and retail group, Innscor Africa, but is having to shuttle between the two countries because he has no work permit.
Ellerines was forced into business rescue - similar to Chapter 11 bankruptcy in the United States - in August after parent company African Bank Investments (Abil) cut off funding.
Days later Abil was rescued by the South African central bank.
Appointed head of Ellerines in 2003, Antonio Fourie stepped down in February, by which time the furniture-selling company was choking from losses.
Fourie could not be reached for comment.
An assistant in his office in Harare told Reuters he was out of the country and that Innscor was still waiting for his work permit.
It can take six weeks or more to process a work permit in Zimbabwe and Fourie lodged his application more than two months back, an official at Innscor with knowledge of the issue said.
Fourie was last month quoted by local online news agency The Source as saying he would undertake a restructuring exercise to cut costs, improve efficiencies and increase Innscor's return on equity to 30 percent from the current 23 percent.
Innscor runs the popular Chicken Inn and Pizza Inn chains, as well as the local operations of supermarket Spar.
Innscor, which is growing its footprint in Africa, reported a 35 percent decline in full-year earnings to June after consumer spending in the southern African country was hit by an economic slowdown. - Reuters