Capacity utilisation in the manufacturing sector is going up on the back of economic stability in the country with companies investing in increasing production.
Manufacturing companies are taking advantage of the ever-improving economic environment to expand and this Thursday as evidenced by a 2,5 million dollar roller dryer equipment launch by global food conglomerate, Nestle, whose aim is to increase production by over 85 per cent in Zimbabwe.
Coinciding with its 61st anniversary in the local market, the company has so far invested over 40 million Swiss Francs since 2010 with East and Southern Africa Chief Executive Officer, Mr Bruno Oliehiek expressing confidence in the growth of the Zimbabwean economy.
“We are partnering with coffee farmers in the Eastern Highlands to grow coffee and we are introducing the Expresso range of Zimbabwe coffee which is now widely consumed in Europe.”
Industry and Commerce Minister, Sekai Nzenza hailed the government’s stance on reforming the economy which has created an enabling environment for import substitution and job creation.
“This expansion dovetails with the local content policy, industrialisation policy and job creation mandate of Government.”
Nestle’s operations have been sustained by local dairy farmers with the government expecting to eradicate milk imports in the near future.
“We cherish the partnership between Nestle and dairy farmers which has helped grow Zimbabwe’s milk output,” said Deputy Minister for Lands, Agriculture, Water and Rural Resettlement Hon Vangelis Haritatos.
Swiss Ambassador to Zimbabwe, His Excellency Mr Niculin Jaeger pledged his country’s commitment to invest in Zimbabwe given the fast-improving operating environment.
“Jaeger Swiss companies will continue to invest in Zimbabwe for the unforeseeable future because we believe that this is a lucrative market.”
Nestle is in the process of expanding its product offering owing to improving market demand.
Of late, many local companies have posted impressive financial results – attributing the performance to economic stability, hence good economic times are reckoning for local companies and the economy at large.