By Shadreck Gurenje
ZANU PF First Secretary and President Dr Emmerson Mnangagwa has said the increasing number of investments in the country’s economic sector is a signal of confidence in the robust measures implemented under the Second Republic.
Giving his keynote address at the official opening of the Varun Beverages phase 6 and 7 expansion project, President Emmerson Mnangagwa said Zimbabwe is a more lucrative place to do business and concerted efforts ushered in under the Second Republic are bearing fruits with the World Bank acknowledging Zimbabwe as one of the top global improvers.
“The increasing number of investments in our economy is a show of confidence in the robust measures implemented by my administration. This continues to create an enabling business environment, making Zimbabwe a more lucrative place to do business.
“Our concerted efforts are bearing fruits with the World Bank acknowledging Zimbabwe as one of the top global improvers,” said President Mnangagwa.
Varun Beverages, through its investment in Mobile Pepsi Dispensing Units, has significantly transformed the retail landscape in Zimbabwe and the initiative has created employment opportunities for women and youth.
Varun Beverages production commissioned by President Mnangagwa today is expected to increase production capacity to 100 million bottles of sparkling and bottled water, from the earlier 80 million bottles per month.
President Mnangagwa applauded the private sector for playing a critical role in supporting the industrialisation drive under the Second Republic.
“I applaud the critical role that the private sector is playing in growing the industrial sector and fostering a real structural transformation towards an investment-driven economy.
“Since 2018, Varun Beverages has demonstrated a consistent determination to be a leader in the modernisation of the manufacturing sector, particularly in the beverages sub- sector. I recall the bold step taken by the company to make an initial investment of US$30 million in 2018.
“Subsequently, I officiated at various expansion milestones in December 2019, October 2021 and April 2023. The entry and gradual growth of the company has resulted in price stability and increased availability of beverage products in the market, especially during peak seasons.
“Today, we are celebrating the success of an international company that has been in existence in this country for only six years, with substantial investments in new manufacturing plants and industrial infrastructure. This is quite commendable and indeed a clear testimony of the resilience you have shown over these years,” said President Mnangagwa.
President Mnangagwa also urged the local authorities to consistently ensure that there is provision of reliable services for business and the public in general.
“I urge our local authorities to consistently ensure the provision of reliable services for business as well as the general citizenry. As you are aware, over the past four years, Zimbabwe has been one of the better performing economies in the region.
“ Our clarion call is for both, local and foreign investors to continue investing in Zimbabwe across all sectors of the economy, leveraging on the abundant natural resources, demographic dividend, highly educated workforce and innovation hubs across the country.
“Let me, therefore, exhort all business, industry and commerce players to diversify their operations into all provinces to the reach of grassroots communities,” said President Mnangagwa.