Econet invests $17m in bottling plant

Published: 09 April 2014

Econet Capital Zimbabwe has invested $17 million into a new beverages packaging plant at the Mutare Bottling Company (MBC).

Speaking at the official commissioning of the plant, imported from Italy, MBC chairperson and Econet Capital CEO John Could yesterday said the investment was a show of confidence in the economy.

"This new model plant will create a low cost in production. It took us one year to put the plant together. While other companies are folding and closing in the country, we have decided to stay put and invest, this shows how confident we are in this economy.

"Though Delta recorded a decline in profit last year, this was because of the financial difficulties, but I am confident that next year would be much better. What we are focusing on now is return on investment and making sure that the plant is running well," he added.

Coca Cola Central Africa franchise general manager Maserame Mouyeme said Coca Cola had been in the business for a long time and is here to stay.

"I urge investors to come and invest in this country as we have done. We have been in Zimbabwe for the past 66 years and we are still around. This has only taken Zimbabwe a year to install, while in other countries it takes long," she explained.

The minister for Provisional Affairs for Manicaland Christopher Mushohwe, who was also present, said MBC had demonstrated to the world that Zimbabwe was a safe investment destination.

"Through this significant investment, MBC is our good ambassador. This plant should assure competitiveness in our products and this will increase employment in the informal sector.

"This is a positive step for the ZimAsset song that we have been singing, and as government we appreciate this gesture.

"Mr (Strive) Masiyiwa and the Goldberg family are Zimbabweans and by investing in Zimbabwe they are leading by example on what our people should do and FDI will flow into this country," he added.

MBC was established in June 1950 as an authorised bottler of Coca Cola with a franchise to bottle and distribute a range of Coca Cola products throughout Manicaland.

The company is a subsidiary of Econet Wireless Zimbabwe who have a 67% stake in the project while 33% has been taken up by the Goldberg Family.

MBC employs 245 permanent workers and 30 seasonal contracts during peak production.
- Zim Mail

Tags: Econet,