The Sunday News
Munyaradzi Musiiwa Midlands Correspondent
THE country’s sole yeast producer is set to hit the 100 percent capacity utilisation mark in the coming months, a rare feat for local companies, after a French Investor Lesaffre Yeast Corporation took over 60 percent of the company in an estimated $3 million transaction. In an interview, Anchor yeast chief operations officer Mr Ngaa Gumbo said Lesaffre Group which controls 60 percent of the world yeast market would be taking up 60 percent stake of the local company and also bring capital, technological expertise and equipment by mid next month.
Lesaffre employs a staff of 8 000 divided between more than 80 subsidiaries in production sites and commercial offices in more than 40 countries.
Its products are sold in more than 180 countries. He said once new equipment has been brought and capital injected, Anchor Yeast would increase its production capacity to 100 percent from 79 percent. Mr Gumbo said Anchor yeast would also be taking over the South African market as well as the conduit of supplying other new products provided by the French manufacturing company.
He said once the wheels were in motion the company would add at least 60 workers to the 125 already on board. “We are set to increase our production capacity with the joint venture that we are looking forward to get into. The name of the company is called Lesaffre- French company. There is a new investor interested in Anchor Yeast however, I am not at liberty to disclose the amount which will be invested into the company because the discussions are still going on. The investor will bring us new equipment as well as access to new markets.
At the moment we are using obsolete equipment so with this partner coming on board who controls about 60 percent of the world market, the intention is to make Zimbabwe a manufacturing hub for yeast in the region. The investor is bringing in technology,” he said. Mr Gumbo said once the deal materialised, Anchor Yeast would be able to surpass local demand for yeast. Industry and Commerce Minister Mike Minister Bimha confirmed that a French investor was interested in Anchor Yeast and the negotiations were at an advanced stage.
“Gweru has not been that dead, the news that we are hearing that Anchor Yeast has found a partner breathes life into the city. As Government we are very much interested in any new development in this part of the country” he said.
