Story by Josephine Mugiyo
PRESIDENT Emmerson Mnangagwa this Monday officially commissioned the VARUN Beverages 6th and 7th plant in Ardbennie, Harare, a development which will see the company produce more bottled water.
President Mnangagwa says the increasing number of investments in the country is a reflection of confidence in the robust measures put in place by the Second Republic to attract more businesses.
Having entered the Zimbabwean market in 2018 through an investment of US$30 million, the company, which produces carbonated drinks and water, has continued to grow its investment over the years, hence the commissioning of new production lines by President Mnangagwa.
The new lines will see production of water increase from 80 million bottles to 100 million per month.
President Mnangagwa highlighted how the increased business capacity and coming in of more players signifies confidence the outside world has on the business policies put in place by his administration.
He said, “The increasing number of investments in our economy is a show of confidence in the robust measures implemented by my administration. This continues to create an enabling business environment making Zimbabwe a more lucrative place to do business. Our concerted efforts are bearing fruits with the World Bank acknowledging Zimbabwe as one of the top global improvers.”
Synergy between the government and private sector is key in the growth of any economy and in Zimbabwe’s case, President Mnangagwa recognises the important role the private sector is playing in fostering business.
“I applaud the critical role that the private sector is playing in growing the industrial sector and fostering a real structural transformation towards an investment driven economy. Since 2018, Varun Beverages has demonstrated a consistent determination to be a leader in the modernisation of the manufacturing sector, particularly in the beverages sub sector.
“I recall the bold step taken by the company to make an initial investment of US$30 million in 2018. Subsequently, I officiated at various expansion milestones in December 2019, October 2021 and April 2023. The entry and gradual growth of the entity has resulted in price stability and increased availability of beverage products in the market especially during peak seasons,” he said.
From water and carbonated drinks, the carbonated drinks manufacturer is now venturing into snack production.
“I am also pleased to announce the laying of a foundation stone for the snacks business, which is expected to generate direct and indirect employment for approximately 1 000 to 1 200 families,” said the President.
Meanwhile, the President also handed over vending carts to the company’s vendors.
President Mnangagwa called on investors to consider investing in the country’s provinces and rural areas to ensure the rural population is part of the development drive.
