Swiss food giant Nestle has announced plans to step up its investment in Zambia as it looks to strengthen its presence in Equatorial Africa.
The division was incorporated on 1 February 2010 and began operations in October 2010. It is headed up by country manager and MD Yuriy Demkovych and currently employs 24 people.
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Nestle said that, with an investment of US$2m spread over the next two years, it expects to expand its distribution channels to include major cities throughout the country.
“Nestlé is committed to unlocking the business opportunities and to promote growth of our market in Zambia. Since its establishment in 2010, we have witnessed remarkable potential, which we are now responding to by increasing our investment. By investing in distribution channels in Zambia, we get closer to our consumers and can better understand their needs,” Pierre Trouilhat, CEO of Nestle’s Equatorial Africa region, said.
Nestle’s strategy in Zambia is to focus on its PPP (popularly positioned products) and nutrition products, Trouilhat continued. “Through this approach we will extend our products offerings to lower income consumers by bringing to the Zambian people relevant and good quality products at affordable prices. Our aim globally has been to offer high nutritional value food at low prices and in smaller, more affordable pack sizes.”
Last year, Nestle said it would invest CHF150m (US$166m) in Equatorial Africa over the next three years. Projects include new factories in Angola, Mozambique, and the Democratic Republic of Congo and refurbishing of two existing factories in Kenya and Zimbabwe.
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