Zim Now Writer
As the drive to revive industry continues, Bulawayo-based agro-processing concern Flynote Investments Private Limited has pumped US$1.5 million towards new biscuit and stock feed manufacturing units.
Mainly known for its Evergold brand on rice, flour and maize-meal, Flynote Investments is a foreign investment owned by a Pakistani businessman, which was incorporated in Zimbabwe in 2009 and started operations in 2016.
Flynote managing director, Hafiz Naeem, said the new investment was part of the company’s expansion drive, which is anchored on value addition.
Naeem said they decided to exploit the many opportunities in the agri-business value chain, which offers plenty of room for diversification.
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“We’ve installed a biscuit plant worth US$1.5 million and a stock feed plant worth US$100 000 here in Bulawayo and our main target is value addition of our products,” he said.
“From wheat to flour and from flour to biscuits. We then take the residues from flour production and value-add them to produce pan fattening meal and broiler pellets.”
Located in the Thorngrove industrial area, the biscuit plant has employed more than 18 people, bringing the number of Flynote Investments to over 150, according to Naeem.
The businessman said Zimbabwe has great investment opportunities for any potential investor although there was always need for strategic planning in order to realise more profits and grow the businesses.
“I’m always thinking about how I can grow my business. Then I came up with a plan to buy rice from Pakistan and India during the harvesting time when the markets will be flooded and prices will be low and I sell my products here in Zimbabwe when there is a shortage,” he said.
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