National Foods has recorded significant growth in production and capacity utilisation following the commissioning of three new manufacturing plants under a US$23 million recapitalisation and expansion programme.
The country’s leading food processing company commissioned a biscuit manufacturing plant, pasta production facility and cereal plant last year.
National Foods group chief executive, Mike Lashbrook, said production across the new plants continues to rise steadily, reflecting strong demand for the company’s products.
“Our production levels have steadily increased. The pasta plant is operating at an average of 80 percent. The biscuit plant is at 100 percent and the cereals plant at 90 percent,” he said.
“Our monthly revenue as a group is now between 12 and 15 percent. Since we commissioned the plants, our workforce has increased by 300 people, which translates to around 15 percent. This speaks to good growth on this side.”
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Encouraged by the strong performance of the new facilities and a favourable business environment, National Foods is preparing for another major investment drive aimed at expanding its manufacturing footprint.
Lashbrook revealed that the company plans to invest a further US$25 million in additional production facilities beginning next year, while also setting its sights on regional and international export markets.
Government has identified industrial recapitalisation as a key component of economic transformation under the National Development Strategy 2 (NDS2).
The NDS2 seeks to accelerate industrial growth, create employment opportunities and increase value addition across key sectors of the economy.
Lashbrook said the company is positioning itself to play an increasingly important role in Zimbabwe’s industrialisation drive and export-led growth agenda.