Published: 06 September 2013

Zimbabwe Stock Exchange (ZSE) listed diversified conglomerate, National Foods says it is set to inject close to $7 million on capital expenditure as part of efforts to improve the operations of the manufacturing firm.

The conglomerate, which recently announced positive performance during the last 12 to June 2013, said it is committed to the increased capacity utilisation in line with the government's objective of enhancing the competitiveness of the local industry.

According to the group's recent financial statement, the firm, which injected a total of $6 million into capital projects during the just ended financial year, is set to invest an additional $7 million for capital expenditure.

The financial injection is anticipated to go towards the further plant upgrades and equipment.

According to the group, during the period under review, eight of the firm's 11 factories were operational and provided sufficient capacity to fulfil the market demand.

Market analysts believe there is need for the country to inject more funds towards the revamping of the local industry given the obtaining low capacity utilisation levels and obsolete equipment.

The increased investment in retooling is also expected to ensure the local manufacturing sector enhances its competiveness. 
- zbc

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