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Delta to invest US$250m in Zim plants

Foreign direct investment (FDI) continues to firm under the new administration as Delta Corporation commits to invest a quarter of a billion in its local plants over the next five years.

The beverage maker, a strong performer on the Zimbabwe Stock Exchange (ZSE) and the largest investor in the alcohol and soft drinks product line, has been an important pillar to the national fiscus and a plinth towards job creation both formally and for small holder farmers through contract farming of small grains.

Sitting at an impressive performance that has seen the firm declaring its dividend twice this year, attributable to a conducive operating environment within the last eight months driven by the open business mantra, Delta Corporation is eyeing a US$250 million investment package over the next five years towards modernising its local plants.

The firm outlined this vision following a visit by President Emmerson Mnangagwa at its main plant in Southerton today.

The first such visit by a sitting head of state since the plant was commissioned in 1962, the plant tour by President Mnangagwa upscales the new government’s commitment to carve a new economic chapter for the country premised on embracing the critical role of the private sector to mapping a path towards prosperity.

President Mnangagwa noted that the commitment by Delta Corporation to further invest in the country is in sync with the broader vision to create decent jobs through increased investment.

The show of confidence by Delta Corporation adds to the multi- billion dollar investor interest drawn from various source markets over the last eight months.

With an investment portfolio that spreads across seven beverage firms in the country, the projected investment package presents further opportunities for the agriculture sector through contract farming for sorghum and barley for use in the value chain.

Source :

zbc

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