The African Distillers Limited (Afdis) says it will focus on localising some of its brands as well as explore revenue and profitability growth opportunities through product innovation, riding on a stable operating environment.
Afdis, manufactures & distributes branded spirits, ciders & wines in the Zimbabwe & export markets.
According to Zimbabwe Economic Review, Afdis chairperson, Matlhogonolo Valela, said plans were underway to invest in capital projects to localise production of some imported products such as 4th Street, which is mainly imported from SA.
“This will ensure enhancement of shareholder value and reduced foreign currency requirements,” he said in a trading update for the six months ended September 30, 2021.”
The Zimbabwean manufacturing sector is currently operating below installed capacity.
Meanwhile, companies have also been facing challenges in accessing foreign currency needed to import materials.
The Reserve Bank of Zimbabwe is running forex auction, however this is dogged by allegations of abuse.
This situation has seen most products being imported from neighbouring countries like South Africa, Zambia and Botswana.
Zwnews
