Business Development

President Emmerson Mnangagwa commissions US$20 million Pepsi Investment


By Anyway Yotamu

President Mnangagwa officially opened a US$20 million second phase of the Varun Beverages manufacturing plant on Friday 6 December 2019 in Harare .

The second phase was completed at a cost of US$20 million.

The company  is the manufactures of Pepsi, 7 Up drinks and other beverages in the local and regional market.

In June 2018, the beverage company launched its first phase of the project which has so far employed over 3 000 employees which includes 2 000 vendors in two major cities of Harare and Bulawayo.

In his keynote address, President Emmerson Mnangagwa commended Varun Beverages for giving back to the community and partnering Zimbabwe in business and for help the country during this transitional period. He said the company is responding to the ‘Zimbabwe is open’ for business mantra which is spearheaded by the Office of the President and Cabinet (Opcode).

“The land belongs to the state for whom I am the leader of the nation so I am going to give you land so that you can invest in our country,” the President said.

Varun Beverages Chairman Mr Ravi Jaipuria said Zimbabwe has an opportunity to develop using its land. He cited horticultural produce as an area with quick economic returns. So far, the beverage company has invested more than US$60 million dollars in the country. The company is currently producing about 1. 5 million units of beverages per day that are going straight into the market.

In attendance at the launch of the second phase of the project was Indian ambassador to Zimbabwe H.E  Rangsung Masakui who also commended the government of Zimbabwe for the solid relations between Harare and New Delhi. He encouraged government to revive and improve on the policy of ease of doing business environment so that Indian business people can flood into the country.

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Byron Adonis Mutingwende