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Natfoods to deploy 12 million dollars to flour business

06 April 20172 min reading

National Foods Limited is deploying about 12 million dollars in capital expenditure in 2017. Nearly 5 million dollars of this will be in the flour business.

natfoodsBased in Zimbabwe, National Foods Limited will deploy about 12 million dollars in capital expenditure in 2017 with about half of that going towards the flour business. The company makes this investment as the final leg of a three-year program to upgrade the company’s flour mills. Also, NatFoods will grow its portfolio, investing into new categories and looking into further investment in biscuits and other categories. By the end of the year NatFoods will have invested about 40 million dollars since dollarization.

“So the majority of that capex, about 5 million dollars, is in the flour business. The rest is a spread between our remaining businesses,” NatFoods chief executive officer Mike Lashbrook said. He added: “We are looking at growing and are very optimistic on Zimbabwe. We will invest for the future. We do not want to just continue where we are but we want to grow this company. We want to go into new categories and developments and we are looking into cereals at the moment. We are still engaging with our board but we are hoping that next year we will be able to get into the cereal game.”

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