Gain Cash and Carry invests $1m in Byo

Kiyapili Sibanda, Business Reporter
GAIN Cash and Carry has opened its first branch in Bulawayo after investing about $1 million dollars in setting up the business.

The wholesale company acquired the business through a management buyout of National Foods depots and partnered with Sub Sahara Africa Company in 2016.

The company has since established 62 branches nationwide.

Speaking on the sidelines of the official launch of GAIN Cash and Carry Bulawayo branch on Friday, executive manager, Mr Godwill Nyakwende, said they have confidence in the country’s economy and this made them to invest close to a $1 million to create employment opportunities in the City of Kings.

“We invested close to $1 million and this shows that we have confidence in the Zimbabwean economy. Others are closing down or relocating but we are opening new branches thereby creating employment for citizens,” said Mr Nyakwende.

He told Business Chronicle that the Bulawayo branch, situated at former R. Chitrin premises at corner Jason Moyo and 6th Avenue, has already employed about 20 people and they were planning to employ more as the company grows.

Mr Nyakwende said the wholesale company’s mandate was to promote locally manufactured products in support of Statutory Instrument 64 of 2016, which seeks to promote local production.

“We don’t import all our goods and most of our products are 100 percent local content and this is in line with the Buy Zimbabwe campaign.

“We believe it is the duty of every Zimbabwean to create employment and we can only create employment by supporting local products,” he said.

Mr Nyakwende said they were on an expansion drive as Gain Cash and Carry and revealed that they were moving some of their branches to more suitable and convenient areas in order to satisfy customers. — @Kiyaz_Cool