Business

National Foods invests US$7M in new breakfast cereal plant in push to expand product range

ZIMBABWE – National foods (Nat Foods), one of the largest food processing companies, in Zimbabwe, is bolstering its presence in the breakfast cereal category with a US$7 million investment in a new facility.

According to William Kapfupi, National Foods managing executive, cereals unit, the new facility will broaden National Foods’ product range, cut the country’s reliance on imports and consolidate its dominance on the local market.

Kapfupi revealed this while overseeing the launch of five new cereal variants including Pearlenta NutriActive cornflakes, bran flakes, and two instant cereals.

The product are set to enter the market soon to complement the already dominant “Pearlenta NutriActive” instant maize porridge.

The company is already enjoying a dominant market for Pearlenta NutriActive instant maize porridge which is at 50% market share locally and is expected to grow to 60% with the new range of cereal products.

The new products will therefore complement the existing products, the Pearlenta NutriActive instant maize meal, which drove the company’s volume in the cereals segment to grow by 35% in the 2022 financial year.

In his presentation, Mr. Kapfupi said that the US$7 million investment, is not only for the five products but more products are set to be launched next year.

He revealed that the company plans to launch a baby food product next year, emphasizing that the brand will be nutritionally relevant for local babies.

The company is also motivated by the low cost of cereals in the market hence the possibility of bringing high-quality cereals at an affordable price which will also reflect to the retail cost of our products, according to Nomagugu Moyo, Natfoods sales and marketing manager.

Currently, the company only exports Pearlenta NutriActive instant porridge but the Cereals unit managing executive was confident that his company will start the export of other products soon.

Mr. Kapfupi says he is confident that the company products can compete both locally and in the region and expects that the new products will start filtering in the regional market by January 2023.

For all the latest food industry news from Africa and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube channel.

Jay Ndungu

Jay is a computer scientist and journalist with a passion for the intersection of technology and society. He has a background in computer science, developing a deep understanding of the technical aspects of the industry, including programming languages and software development methodologies. Currently, He writes for Nairobi Times, covering a wide range of topics including technology, politics, sports, and entertainment. With his unique combination of technical knowledge and journalistic experience, Jay brings a unique perspective to the stories he covers, able to explain complex technical concepts in an easy-to-understand manner. His work is dedicated to bridge the gap between technology and society, and to make people more aware of the potential of technology to make the world a better place.

Related Articles

Leave a Reply

Back to top button
WP Twitter Auto Publish Powered By : XYZScripts.com