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5 December, 2017 00:00 00 AM
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Nestle to close its DR Congo factory

AFP

AFP, KINSHASA: Swiss food giant Nestle announced Sunday that it would close its factory in Kinshasa, capital of the Democratic Republic of Congo, a potential market of 80 million people but one beset by poverty and political instability.

“We will close our factory and offices by the end of January and continue developing our economic distribution model through third parties,” a spokeswoman for the group told the news agency.

The decision affects 120 people and Nestle will offer laid-off employees “a series of compensatory measures more favourable than required by local labour laws,” she said.

Nestle has been in the country since 2009 and opened a factory producing Maggi stock cubes, but has posted losses ever since.

The food giant’s investment of 15 million Swiss francs ($15 million) was a boost to DR Congo, which like other central African nations is seeking to grow its industrial base and move away from being merely an exporter of minerals.

 

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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