THE world’s largest food and beverage company, Nestle, has cemented its grip on the Zimbabwean market after its unit commissioned a new Cremora line management says will help the economy in its import substitution thrust.
BY Business reporter
The new line, costing about $500 000 was commissioned yesterday by President Emmerson Mnangagwa at the company’s Harare plant.
Ben Ndiaye Nestle South cluster manager (Zimbabwe, Zambia and Malawi) told journalists that the economy could have saved $2 million a year through the import substitution of Cremora.
“It’s important to produce locally and import substitution is most important for us. That is why we have to continue to promote Make and Buy Zimbabwe,” he said, adding the company’s capacity has doubled since government’s directive in 2016 of restricting the importation of products that have local equivalents.
Ndiaye said the local market was catering for the bulk of Nestlé Zimbabwe’s revenue, adding that the company was growing exports in Zambia, Malawi and has customers in South Africa.
The new line, Ndiaye said, has created 10 additional jobs. Last year, the food and beverages firm launched the affordable product line to tap into the lower end of the market.
He said Nestlé Zimbabwe would export more dairy and non-dairy products and more cereals leveraging on government’s command agriculture thrust.
“Our Cerevita brand has tremendous potential outside Zimbabwe,” Ndiaye said.
Board chairman Kumbirai Katsande said the investment by the global food and beverage company was testament that Zimbabwe is open for business.