The Zimbabwean government has expressed its appreciation for the substantial investments made by National Foods Limited (NatFoods), a leading food manufacturer in the country. These investments, totaling nearly $16 million between 2023 and 2024, are aimed at reducing Zimbabwe’s reliance on imported goods, a move that could significantly lower the nation’s import bill.
Recent statistics revealed that Zimbabwe’s imports surged by 12 percent in the early months of 2024, rising to $1.41 billion from $1.26 billion during the same period in 2023. This increase has contributed to a trade deficit of $234 million. In response, NatFoods has made strategic investments in several production facilities, including a $4.4 million cereal extrusion plant, a $6 million flour milling plant in Bulawayo, and a $5.6 million pasta production line.
Zimbabwe, which spends about $40 million annually on pasta imports, could see significant economic benefits from these new facilities. NatFoods’ pasta plant, for instance, has a production capacity of 1,200 tonnes per month, although national demand is around 3,500 tonnes. The company is also preparing to launch a biscuit production line later this month, which could further reduce imports of biscuits predominantly sourced from South Africa and Zambia.
During a tour of the National Foods Stirling Workington plant, the Minister of Industry and Commerce, Mangaliso Ndlovu, praised NatFoods for its role in boosting the local economy and reducing import dependency. Minister Ndlovu spoke on the importance of supporting businesses that contribute to economic growth by replacing imports with locally manufactured goods. “We are tracking the impact of these investments on our import bills and will continue to support initiatives that help us achieve self-sufficiency,” he said.
NatFoods CEO, Michael Lashbrook, emphasised the company’s commitment to reducing the importation of staple foods. Over the past three years, NatFoods has invested around $40 million in new projects aimed at replacing imports. “For example, although Zimbabwe consumes 3,500 tonnes of pasta per month, currently all of it is imported. With our new production line, we can meet a third of this demand domestically and look towards completely fulfilling it and even exporting in the future,” Lashbrook explained.
Lashbrook went on to speak about the upcoming $7.7 million investment in a biscuit plant as another step towards self-reliance. “It doesn’t make sense to import biscuits when we can produce them locally, using our surplus wheat and other ingredients,” he noted.
By focusing on local production, NatFoods is not only contributing to the reduction of Zimbabwe’s import bill but also demonstrating the potential for economic growth and stability through increased domestic manufacturing.
