adminMartin Kadzere : Senior Business Reporter
LOCAL horticultural company, Nhimbe Fresh Exports says it is targeting revenue of nearly $30 million in the medium term, driven by growth in sales volumes of high value fruits. Chairman Mr Edwin Moyo said Nhimbe, formerly Lonrho Fresh Exports, was looking at expanding production of blueberries, raspberry and stone fruit in the next four years.Mr Moyo bought 49 percent shareholding of Lonrho Fresh Exports from Lonrho African Holdings in January this year, giving him the entire stake of the horticultural firm.
“In terms of the topline, we are at $12 million and we are projecting to be at $19 million by 2018 and $29 million two years later.
“This will be driven by increased production of high value crops,” said Mr Moyo.
The company would expand production of blueberries to 60 hactares from the current five hectares; stone fruit to 100 hactares from 82 hactares while raspberry production would be expanded to 30 hactares from 12 haactres, said Mr Moyo.
Most of the products will be exported to supermarket chains in Europe, particularly the UK.
Apart from high value crops, revenue growth will also be supported by potatoes, mangetout peas, sugar snaps, strawberries and tobacco.
The company was looking at exporting between 800 and 1 000 tonnes of sugar snaps and 2 000 tonnes of stone fruit.
“Because of import restrictions on some of the agricultural products, the company will increase production of some of these crops to meet local demand,” said Mr Moyo.
He said the company is also working on transforming social welfare of the employees by putting them on pension scheme and providing medical aid and funeral cover.
The company employs 1 500 workers.
“These are our important assets and we are working on improving their welfare.”
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