ZAMBIAN BREWERIES ANNOUNCES ADDITIONAL $80 MILLION PACKAGE OF CAPITAL INVESTMENT
By Michael Kaluba
Zambian Breweries has announced an $80 million package of capital investment which is expected to double the brewers production capacity at its Lusaka plant over the next 18 months with the company saying this is buoyed by the currently existing enabling investment and trade climate in the country.
The investment, scheduled to be completed by the end of 2023, is expected to create more direct and indirect jobs, expand the company’s agriculture out-grower schemes, offer further procurement opportunities for local suppliers and service providers, and contribute additional tax revenue to government.
Zambian breweries country director Michelle Kilpin has highlighted that the new investment is in addition to the company’s long-standing contribution to the Zambian economy over many years, with just under $400 million spent on capital investment programmes in the last decade and that the initial $80 million investment is part of Zambian breweries’ strategy of creating and sharing value that will see the Lusaka plant doubling its current capacity by the end of 2023.
In a statement to Phoenix News, Ms. Kilpin cited a recent independent study by global consulting firm that revealed that in 2019 alone, Zambian breweries contributed K1.6 billion to government revenues and that in the same period, the company generated K5.8 billion in output and K1 billion in GDP, creating 80,096 direct and indirect jobs, equivalent to K164 million worth of labour income.
And Zambian Breweries Chairperson Monica Musonda says this new investment of $80 million is another demonstration of Zambian breweries’ long-term commitment and contribution to Zambia further asserting that the brewer will continue to support efforts by the government to grow the economy through creation of employment opportunities, empowerment of local suppliers, distributors, retailers, farmers and entrepreneurs, and contributing to national revenues.
PHOENIX NEWS