ZIMBABWE: Nestle hits out at "cheaper state imports"
Nestle has said it is not quitting Zimbabwe
Nestle has told just-food it is not pulling out of Zimbabwe, despite raising concerns it is facing unfair competition from cheap imports.
The Swiss food giant has, however, raised the alarm with the Zimbabwe government, saying state organisations were importing cereals, solid milk and coffee without paying import duty. These products were now being sold on the Zimbabwean market at cheaper prices.
Nestle's Zimbabwe arm has expressed concern about imports of rival products - and those from the company's own subsidiaries outside the country.
Nestle Zimbabwe chairman, Kumbirai Katsande, told just-food it was "difficult to estimate a figure" on how much the company had lost to the alleged smuggling syndicates.
After lodging a complaint with the country's finance minister Patrick Chinamasa and industry minister, Mike Bimha, Nestle is hopeful the government will enforce measures aimed at ring-fencing locally produced goods.
"We expect the authorities to act. We never contemplated scaling down or shutting down," Katsand said.
The Zimbabwe government is now set to introduce higher tariffs on imported finished goods, according to Chinamasa. Manufacturing companies also have the option of importing raw materials at a lower import duty to promote local productivity.
Synopsis Canadean's "Nestle Pakistan Limited : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The prof...
Nestle S.A. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offerings an...
Nestle came under investor scrutiny last week after its sales missed analyst expectations - with China a central factor. Elsewhere, we looked at the international strategy of one of China's largest fo...
Synopsis Canadean's "Nestle India Limited : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile...
- Why Nestle is relaxed about the China "drag"
- Focus: Will Danone return to growth in dairy?
- SIAL 2014: Greek yoghurt firm Fage targets Europe
- Comment: Paying the price for eating healthily
- Focus: Why French retail deals could hit suppliers
- SIAL 2014: Premier in talks over US manufacturing
- Symington's acquires Tanfield Foods
- Danone "eyes acquisition of Mead Johnson"
- Heinz silent over Polish factory expansion talk
- Kellogg, Nestle slammed for "chaotic" salt policy