Transformation of CITC a challenge that paid off
Twenty years ago, as Trevor Clarke surveyed the company he’d just acquired the majority shareholding of, it wasn’t a pretty sight. Cook Islands Trading Corporation’s (CITC) buildings were old and in need of replacement, the company itself was tired – almost dormant. The Cook Islands too were in bad shape at the time. The country was broke and the government was hugely in debt. It had been printing its own bank notes to try to stay afloat, and using funds intended for...