Varun Beverages Zimbabwe to invest US$650M in energy, agriculture and FMCG expansion
Varun Beverages Zimbabwe plans a US$650M investment spanning energy, agriculture and FMCG to boost jobs, manufacturing and renewable power capacity under Vision 2030.
ZIMBABWE – Varun Beverages Zimbabwe has unveiled a US$650 million investment programme aimed at expanding its footprint across renewable energy, agriculture, manufacturing and fast-moving consumer goods (FMCG), reinforcing its long-term commitment to the country.
The investment, to be rolled out over the next three to four years, is being undertaken in partnership with RJ Corporation and INOX Energy. The initiative aligns with Zimbabwe’s Vision 2030 agenda and is designed to strengthen key sectors including energy security, food production, industrial capacity and job creation.
In a statement, the company said it views sustainable economic growth as being anchored on “reliable infrastructure, productive agriculture and a strong partnership between the private sector and Government.” It added that the expansion reflects its commitment to supporting Zimbabwe’s broader development trajectory.
A key component of the programme is the energy sector, where the company is backing a planned 500-megawatt solar power project. The initiative, being developed with its partners, is expected to boost renewable energy capacity, reduce reliance on electricity imports and ease pressure on public financing.
Varun Beverages Zimbabwe said private sector participation in energy generation is essential for long-term industrial growth and manufacturing competitiveness. It noted that stable electricity supply remains critical to improving investor confidence and supporting productive sectors of the economy.
In agriculture, the company is strengthening its backward integration strategy by working closely with local farmers to produce key raw materials such as barley, malt and maize. These inputs will support its beer production under the Carlsberg franchise and its snacks portfolio, including Cheetos under PepsiCo.
The company said it plans to introduce modern, drone-assisted mechanised farming techniques to improve productivity and yields. It added that the approach is intended to enhance food security and position Zimbabwe as a supplier to regional and continental markets.
Employment creation remains central to the expansion strategy. Varun Beverages Zimbabwe currently supports more than 2,000 direct jobs and over 13,000 indirect livelihoods. With planned investments across multiple sectors, the company expects to create thousands of additional jobs, potentially matching or exceeding current employment levels.
The group also plans to introduce additional multinational FMCG brands into the Zimbabwean market through partnerships under RJ Corporation. According to the company, this will help strengthen local manufacturing, expand retail and logistics networks, and broaden consumer choice.
Varun Beverages Zimbabwe said its ongoing investments reflect growing confidence in Zimbabwe’s investment environment, citing government policies that support industrial growth and private sector participation. It emphasised that closer collaboration between business and government remains essential to driving economic progress.
The company also expressed appreciation to consumers, noting strong demand for its recently launched Cheetos range and confirming that it is evaluating further expansion to meet rising consumption.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
