A LOCAL paint manufacturer, Nash Paints, says it is currently operating at half of its capacity due to constraints in sourcing raw material.
BY MTHANDAZO NYONI
Chief executive Tagarira Mutenga told NewsDay recently that the company was producing about 600 000 litres of paint per month and would do more if the foreign currency to import necessary raw materials was made available.
“You will realise that a lot of the raw materials are imported and that requires foreign currency, which this country is unable to (fully generate),” he said.
The company requires about $200 000 in foreign currency a month for the importation of raw materials.
Zimbabwe is in the grips of an acute liquidity crisis, a situation which has resulted in many companies failing to sustain their operations.
Mutenga added that there were plenty of opportunities in the country due to demand in roads and houses paints.
“Our performance to date has been phenomenal. We have got support that we see from housing developers, people who want to repaint their houses from institutions that are doing capital infrastructures because we do specialise in manufacture and detail of decorative paints, industrial paints, automotive paints and wood paints,” Mutenga said.
“We have seen a lot of growth because we have a diversified product range and we have grown phenomenally from one branch in 2007 to 26 branches throughout the country 11 years later. We now employ 260 employees at all our branches from a two-man band in 2007. Production wise, we now do 600 000 litres volume of paint per month, but we are operating at about 50% capacity.”
Nash Paints, founded by Tinashe Mutarisi, opened its first branch in 2007 at Chikwanha shopping centre in Chitungwiza.
From there, it has grown its foot print, opening a branch in Zambia and plans are afoot to open another one in Botswana.