Nestle upbeat of growth opportunities

present in the continent.
Nestle Global chief executive officer Paul Bulcke’s comments followed a R500 million investment project launched in Babelegi, Hammanskraal, north of Pretoria on Monday.
The projects include the construction of a 16 000- square-metre factory for the manufacture of Milo and Cheerios breakfast cereals and the addition of new  production lines for the manufacture of Maggi Noodles.
Nestlé has been granted approval in accordance with Section 12 I Tax Allowance Programme of the Income Tax Act.
South Africa’s government approved the tax allowance deduction for nestle of R168 million for Nestle in terms of their investment and training needs.
Bulcke said the company had a long history in South Africa and Africa, and that consumers and their employees holds a very important key role in their products and services.
“Forty percent of our products are sold in emerging economies and are expected to grow up to 50 percent in 2020.
“We have been present on the African continent for more than hundred years, and we see great growth opportunities for the future,” he said.
The Babelegi investment alone has created more than 130 permanent jobs within the two factories and 300 indirect jobs over a 20-month period during the construction phase. — CAJ News.