Indian soft drinks manufacturer, Varun Beverages which operates the Pepsi brand will in the next three to four weeks commission a multi-million dollar canning plant reaffirming commitment to continue operating in Zimbabwe after establishing its project last year.
It is the aim of any company to take advantage of opportunities into good use for long term benefits.
At a time when some corporates are adopting a cautious approach in terms of business activities in light of the current austerity measures, it has, however, been a platform for Varun Beverages to diversify production portfolios, according to its General Manager for Corporate Affairs, Mr Fungai Murahwa.
“We are taking each step at a time and we are now within our third phase where we expect more to come in terms of increasing production base in the future,” he said.
While the manufacturing sector is also pinning hopes on the new industrial development policy to set the tone for restoration of confidence, the canning plant is expected to unlock value on employment opportunities, overall contribution to government’s fiscus in terms of taxes among other factors.
“We are not going any way backwards as we try to tap the current gains and ensure that we focus more towards increasing our production base in the country, remember this is in line with the Zimbabwe is open for business mantra,” added Mr Murahwa.
With the floating of the United States dollar against the RTGS dollar is a talking point for manufacturing companies in terms of getting access to foreign currency for key imported raw materials, home grown import substitution policies have seen the company managing to stay afloat, says Mr Murahwa.
“We are not just depending on crying for foreign currency but rather we have seen it fit to focus on key import substitution policies and this is really working for us as a corporate,” he said.
That some firms are already gearing up for long term benefits despite the current economic reforms should also provide the basis for how other companies should also continue expanding operations and gearing up for the anticipated growth opportunities when the economy recovers to its full potential.