Savanna Tobacco of Zimbabwe plans to set up a factory in Mozambique, reports Newsday. According to Chairman Adam Molai, the company will invest at least $2 million in equipment and marketing.
“We have been exporting a lot of finished cigarettes into Mozambique,” said Molai. “We are seeing opportunities to pack our cigarettes in that market.” Savanna exports 85 percent of its products.
Molai expected that by year’s end company volumes would be up 40 percent compared with 2013. He said the company has the capacity of producing 4.5 billion sticks of cigarettes, but currently it was utilizing 72 percent of that capacity.
The chairman said the company had increased the value it got from products by 10 times since it began operations in 2002.
Category: Breaking News