President tours Proton
President emmerson Mnangagwa and his deputy Constantino Chiwenga last november toured Proton Bakery in Maraondera where they were briefed on the operations of the business by chief finance officer Kelvin Mundeta. Mundeta indicated that the company has installed capacity of 140 000 loaves a day and is operating at 78% of capacity.
“the company has been constrained by a shortage of wheat in the country considering that the company requires 60 tonnes of flour to operate at full capacity,” he said.
Proton Bakery, however, lauded efforts being made by the government in stabilising the country’s economy, particularly the introduction of the foreign currency exchange system which has played an important role in economic stability.
“the introduction of the foreign exchange auction market has brought stability and sanity to the markets and thus has enabled us to source raw materials and machinery spares. the reduction of corporate tax from 25% to 24 % together with value-added tax reduction from 15% to 14,5%, help the business to retain funds to continue funding its working requirements,” he said.
the company also commended the government for bringing peace and stability which is enabling businesses to operate without hindrances and interferences.
“reduction of electricity power cuts which have significantly reduced the cost of expensive back-up power, the pro-business policies by the government make the macro-economic environment more predictable and planning easier.”
Proton employs in excess of 1 000 people and requires lots of wheat to ensure the business runs throughout the year. Mashonaland east province is better positioned to increase the production of wheat in the country. this year, Zimbabwe expects to achieve 250 000 tonnes of wheat, more than doubling last year’s production and thus inching nearer the goal of national wheat self-sufficiency.
Mnangagwa noted with satisfaction that fundamentals in the economy were in place.
He also noted that 2020’s wheat production had moved from three months national supply to over eight months of national needs, with prospects of reaching national self-sufficiency in the next three years owing to expanded irrigation capacity.