Online Reporter
Harmony Agere
The expansion of Varun Beverages Zimbabwe into snack production is expected to strengthen the local industry, create jobs and widen market opportunities for Zimbabwean farmers, Industry and Commerce Minister Mangaliso Ndlovu said at the commissioning of the company’s new Cheetos plant on Wednesday.
Speaking during the official opening ceremony by President Mnangagwa, Minister Ndlovu said the investment reflected growing investor confidence in Zimbabwe’s economy and industrialisation agenda under the Second Republic.
“Today’s event is more than the commissioning of a production line,” he said.
“It is a strong vote of confidence in Zimbabwe’s economy, in our industrialisation agenda and the conducive investment environment.”
He said since commencing operations in Zimbabwe in 2018, Varun Beverages had continued to expand its footprint through investments in beverages, snack foods and apple processing, contributing to value addition and import substitution.
Minister Ndlovu said the investment aligned with the objectives of the National Development Strategy 2 and the National Industrial Development Policy, which seek to build a competitive and export-oriented manufacturing sector anchored on innovation, productivity and sustainable industrial growth.
He said Zimbabwe had an opportunity to substitute more than US$4 billion worth of imports through increased domestic production, adding that investments such as the new Cheetos plant would strengthen local supply chains and retain value within the country.
The minister said the Government would accelerate implementation of the Local Content Strategy to promote procurement of locally produced goods and increase participation of Zimbabwean companies in major investments.
“We will be accelerating the conclusion of the implementation modalities of the Local Content Strategy,” he said.
“This strategy prioritises local production, encourages sourcing from domestic suppliers and ensures Zimbabwean enterprises participate meaningfully in major projects.”
The expansion is also expected to benefit local farmers through increased demand for agricultural raw materials used in food processing.
