Story by Tafara Chikumira
NATIONAL Foods is recording increased capacity utilisation and production growth following the commissioning of three new production plants as part of a US$23 million recapitalisation programme.
The biscuit, pasta and cereal plants, commissioned by President Emmerson Mnangagwa last year, were established to improve production efficiency and expand output.
The investment is now yielding results, with the company reporting rising production levels across all three facilities and a growing workforce.
National Foods Group Chief Executive Officer, Mr Mike Lashbrook said the plants are performing strongly and contributing to sustained business growth.
“Our production levels have steadily increased. The pasta plant is operating at an average of 80 percent capacity, the biscuit plant at 100 percent and the cereals plant at 90 percent.
“Our monthly revenue growth as a group is now between 12 and 15 percent. Since commissioning the plants, our workforce has increased by 300 employees, which translates to around 15 percent growth. This reflects positive progress for the business,” he said.
The company is now positioning itself for further expansion, including increased participation in export markets.
Mr Lashbrook said the prevailing business environment has boosted investor confidence and strengthened the company’s appetite for additional investment.
“I must say the business environment is quite favourable. This is increasing our appetite to do business in Zimbabwe. We intend to establish additional production plants valued at US$25 million beginning next year.
“We also plan to make inroads into export markets once production reaches peak capacity,” he added.
The Second Republic has prioritised industrial retooling and modernisation as part of efforts to increase capacity utilisation and improve competitiveness across key sectors of the economy.
Industrial recapitalisation remains a central pillar of the National Development Strategy 2 (NDS2), which seeks to accelerate economic growth and support Zimbabwe’s drive towards upper-middle-income economy status by 2030.
