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Dairibord has no plans to exit Zimbabwe
09 Oct 2024 at 07:36hrs | Views
Dairibord Holdings has firmly dismissed recent online reports suggesting that the company is planning to shut down its operations in Zimbabwe and relocate to South Africa. The group has reaffirmed its strong commitment to its Zimbabwean roots, where it has a long history of success and substantial investment.
In a press statement, Group CEO Ms. Mercy Ndoro emphasized that Dairibord has no intention of divesting from Zimbabwe. "Dairibord has a longstanding history of successfully exporting its heritage brands to South Africa and other regional markets, often falling short of meeting demand," said Ndoro. "As a result, we have initiated strategies to optimize supply and distribution channels in South Africa, but we remain firmly committed to Zimbabwe."
The statement clarified that Dairibord is focusing on capacity building to support its growth in both local and regional markets. These investments reflect the company's confidence in its future and its dedication to serving Zimbabwe, as well as expanding into regional markets such as Zambia, Botswana, and Mozambique.
Ms. Ndoro also highlighted the importance of positioning the company within the framework of the African Continental Free Trade Area (AfCFTA), which promotes regional trade and cooperation. She explained that Dairibord's strategic moves would help generate foreign currency, benefiting both the company and the Zimbabwean economy.
As Zimbabwe's largest milk processing company, Dairibord plays a crucial role in the country's agricultural and food industries. The company collaborates with both small and large-scale farmers to boost raw milk production, contributing to Zimbabwe's import substitution strategy. Dairibord processes approximately 40% of the raw milk produced in Zimbabwe.
With production facilities in Chitungwiza, Chipinge, Harare (Simon Mazorodze), and Harare (Rekayi Tangwena), Dairibord manufactures a wide range of dairy, food, and beverage products. The company, which is listed on the Zimbabwe Stock Exchange (ZSE), remains committed to serving the interests of its primarily Zimbabwean shareholders.
Ms. Ndoro reaffirmed that Dairibord's Zimbabwean operations remain the cornerstone of its business and expansion efforts, ensuring that the company continues to provide nutritious products to both the local and regional markets.
In a press statement, Group CEO Ms. Mercy Ndoro emphasized that Dairibord has no intention of divesting from Zimbabwe. "Dairibord has a longstanding history of successfully exporting its heritage brands to South Africa and other regional markets, often falling short of meeting demand," said Ndoro. "As a result, we have initiated strategies to optimize supply and distribution channels in South Africa, but we remain firmly committed to Zimbabwe."
The statement clarified that Dairibord is focusing on capacity building to support its growth in both local and regional markets. These investments reflect the company's confidence in its future and its dedication to serving Zimbabwe, as well as expanding into regional markets such as Zambia, Botswana, and Mozambique.
Ms. Ndoro also highlighted the importance of positioning the company within the framework of the African Continental Free Trade Area (AfCFTA), which promotes regional trade and cooperation. She explained that Dairibord's strategic moves would help generate foreign currency, benefiting both the company and the Zimbabwean economy.
As Zimbabwe's largest milk processing company, Dairibord plays a crucial role in the country's agricultural and food industries. The company collaborates with both small and large-scale farmers to boost raw milk production, contributing to Zimbabwe's import substitution strategy. Dairibord processes approximately 40% of the raw milk produced in Zimbabwe.
With production facilities in Chitungwiza, Chipinge, Harare (Simon Mazorodze), and Harare (Rekayi Tangwena), Dairibord manufactures a wide range of dairy, food, and beverage products. The company, which is listed on the Zimbabwe Stock Exchange (ZSE), remains committed to serving the interests of its primarily Zimbabwean shareholders.
Ms. Ndoro reaffirmed that Dairibord's Zimbabwean operations remain the cornerstone of its business and expansion efforts, ensuring that the company continues to provide nutritious products to both the local and regional markets.
Source - the herald
