Investment boosts job creation and advanced manufacturing capabilities in the region
LUBUMBASHI, Democratic Republic of the Congo, Oct. 1, 2024 /PRNewswire/ -- Varun Beverages, one of the largest franchisees of PepsiCo in the world, has announced a USD 50 million investment in a state-of-the-art Pepsi production facility in Kiswishi City, the first private Special Economic Zone (SEZ) in the Democratic Republic of the Congo (DRC). The plant – one of the largest consumer-focused foreign direct investments (FDI) in DRC history – will create thousands of jobs and expand the brands of New York-based PepsiCo in the fast-growing African country.
Shankar Iyer, President of Varun Beverages DRC (left), and Chris Barron, Country Head for Rendeavour in DRC (right), formalise the agreement for Varun Beverages to build a USD 50 Million Pepsi Production Facility at Rendeavour’s Kiswishi City Special Economic Zone in DRC. Louis Watum, Minister of Industry and Development of Small and Medium Enterprises (centre).
The Pepsi beverage facility will be developed on 15 hectares (37 acres) of land at Kiswishi City SEZ, along the N1 Highway, with easy access to the Lubumbashi's rapidly expanding population, the Haut-Katanga Province and beyond. Kiswishi is strategically positioned to enhance logistical efficiencies and economic development across the region, a growth engine for PepsiCo and Varun Beverages.
"Varun's expansion will meet the rising demand for Pepsi beverages in DRC and support our long-term growth trajectory in Africa," said Ravi Kant Jaipuria, Chaiman of Varun Beverages. "Our investment in Kiswishi City SEZ exemplifies our confidence in Congolese consumers and commitment to sustainable manufacturing."
Backed by American, New Zealand, British and Norwegian investors, Kiswishi City SEZ is a project by Rendeavour, Africa's largest new city builder, whose mixed-use cities in Kenya, Nigeria, Ghana and Zambia have catalysed billions of dollars in foreign and domestic investment, along with tens of thousands of jobs for young Africans.
"We are delighted to welcome Varun Beverages and Pepsi to Kiswishi City SEZ, which will create thousands of job opportunities and bolster the economic landscape of the Haut-Katanga province," said Yannick Kitambo, Director of Operations, Kiswishi City SEZ. "This investment is a testament to our commitment to make Kiswishi the most attractive destination for FDI in DRC. With its secure and predictable business environment, Kiswishi is an engine for growth in the Democratic Republic of Congo."
Kitambo credited the Special Economic Zones Authority and Ministry of Industry for creating a conducive investment environment through the country's reliable SEZ framework. Other businesses at Kiswishi City SEZ include Congo Petrol and Queen Energy. Phase one of Kiswishi's residential estate, Kimia, is 95% sold out.
Kitambo added: "Due to the professional support of the Government of DRC, particularly the President's office, the Ministry of Industry, and its Special Economic Zone Agency, we expect further foreign direct investment in DRC, which will help drive socioeconomic development in the country."
About Varun Beverages Limited (www.varunbeverages.com)
Varun Beverages Limited is one of the largest franchise bottler globally of PepsiCo beverages. The company operates in multiple regions across Asia and Africa, encompassing an extensive portfolio of carbonated and non-carbonated beverages. Varun Beverages entered Africa in 2007 when it acquired the PepsiCo franchise in Mozambique. Since then, it has expanded operations into Zambia, Morocco, Zimbabwe, South Africa and more recently, the Democratic Republic of Congo, where it has already commissioned a Pepsi production facility at Maluku SEZ near Kinshasa.
About Rendeavour (www.rendeavour.com)
Rendeavour is the largest new city builder in Africa. Backed by American, Norwegian, New Zealand and British investors, Rendeavour's cities are among the largest construction projects in Africa and hubs for businesses, homes, education and recreation within a infrastructure-ready economic zones.
Current development at Rendeavour is valued at more than $5 billion, with 150 businesses, schools educating more than 6,000 students and 10,000 mixed-income homes occupied or under development.
Rendeavour has created more than 50,000 jobs in the last five years, including the largest call center in East Africa, staffed by 5,000 young Kenyans serving major American customers like United Airlines, JetBlue and Amazon. A further 4,000 call center jobs are confirmed by 2026.
