Speech by Mega Market Managing Director, Mr Shiraan Ahmed

WE welcome you all to one of the most beautiful cities in the world. A city with not only the purest air and cleanest water but with some of the friendliest people you will find. A wheat mill, in a valley between two mountains. What better setting can we ask for? Welcome to Mutare, the home of Mega Market.

All praise be to the Almighty, it is only through his grace and mercy that we stand here today in the presence our leader, His Excellency CDE ED Mnangagwa. We ask the Almighty to bless this occasion and let it be a source of goodness and inspiration to us all.

Your Excellency – we are especially honoured that you have taken the time to be here today. We do not take your presence here lightly. In spite of your busy schedule, you have taken the time to come all the way here. It shows us your commitment to the business community as well as to the people of Mutare. A brief background of Mega Market- Mega Market started off as a small retail shop in main street Mutare many years ago. We went from a small retailer to a wholesaler to one of the largest distributors in the country. Our transition has not stopped.

Your Excellency, we are now in the process of transition from distributor to a leading manufacturer. We currently produce maize-meal and pre-pack a number of products in our brands including rice, tomato sauce, beans amongst others. The company you see today is the fruits of hard work and many sleepless nights that our teams have put in over the years. We have also received great support from our various partners and consumers.

There would be NO Mega Market without them. We currently employ between 500 and 600 people, Your Excellency, this number is set to rise to over 800 people in the next 18 months once the wheat mill is fully commissioned.

When people ask us what we do, we say whatever it takes! During the challenges of hyperinflation of the last few years, often the shelves ran dry with little products at very high prices.

At Mega Market we saw it as an opportunity to establish a brand. In my discussions with our teams, our motto has always been that if the shelves run dry we must be the last brand standing.

Your Excellency, the result of our perseverance and a positive mind set over the years is that it is now a rarity not to find a

Mega Market product in any given Zimbabwean household. In the last three to four years, we have changed the landscape of manufacturing and distribution in the country. Our low-cost structure has allowed us to supply high quality products at prices never seen before in this market. We have never compromised on the quality of our products and packaging. The quality of our finished product would compete with any leading brands in Southern Africa. We have played a key role in ensuring food availability and affordability to the majority of the population.

Your Excellency, as you have seen in your tour we are in process of establishing a state-of-the-art milling plant. It will provide employment opportunities for many as well as become a centre of training and skills transfer. The wheat mill will require 90000Mt per annum at full capacity which provides a ready market for farmers around the country. With our lean cost structure and latest technologies our cost of productions should be one of the lowest in the country which means we can supply high quality bread flour at very competitive prices. It is our hope that this will in turn reduce and stabilize the price of bread. Moreover it will ensure that we are flour self sufficient as a country. We are excited by the implementation of the Africa free trade agreement. It will provide us with a ready market to over 1 Billion consumers. With an efficient manufacturing process the export potential for our products north of the border provides a great opportunity.

We will continue lobbying to be granted Special Economic Zone status to fully exploit the export potential.

Your Excellency, Mutare being only 260kms to the Port of Beira is strategically located and has the potential to become an export and industrial hub. All efforts need to be made to support this.

Your Excellency, the flour produced from the wheat mill is a key ingredient in many other industries like the manufacture of biscuits, pasta, noodles, cereals amongst others. We currently supply 80 percent of the pasta market already. The per capita consumption of pasta has risen significantly in the last few years. Upon successful commissioning of the flour mill it is our aim to set up a pasta line to produce both Spaghetti and Macaroni.

Your Excellency, it would be unfair for me not to recognize the support given to us by your Government. The office of the

Minister of State for Manicaland Provincial Affairs and Devolution have given us incredible support. From the time you became President, the narrative changed from, “what business can do for Government“to “what Government can do for business”.

The Ministry of Industries and Commerce has held our hand throughout the project, constantly checking on our progress as well as addressing any challenges. The Ministry of Finance and Economic Development granted the project, National Project Status.

This has had a positive impact on our cashflow and has ensured we invested any free cashflow into completion of the project.

The RBZ have also given us good support over the years. Despite the shortages of foreign exchange, they have always been ready to assist our bankers where possible.

The foreign currency auction system assisted us greatly with access to the necessary foreign exchange. I can confidently say that the relevant ministries and Government departments including the City of Mutare have lived up to your “open for business” policy.

I would like to commend recent efforts on the macroeconomic front. The stabilisation of the exchange rate and reduction in the rate of inflation has allowed us to plan and focus on our core business.

The efficient vaccination programme has ensured most of our staff have been vaccinated. This will significantly mitigate against the risk of future shut downs and business disruptions.

Your Excellency, I believe Zimbabwe is a sleeping giant waiting to rise. Our mineral wealth, fertile agricultural and land and human capital are difficult to match.

Your Excellency, we pray to the Almighty that He guides to take us to the chosen land.

Your Excellency, I would like to close off with your words: “Leadership comes from God. No one gets such responsibility against God's will, but once chosen to lead, one must serve the people…”