Published by the government of Zimbabwe
1 July 2008
Harare — HARAMBE Holdings is set to make inroads into the region, chief executive Mr David Govere said last week at the firm's 7th anniversary celebrations.
He said the phenomenal growth of Harambe that boasts of 12 stand-alone entities has set the tone for venturing into the region to unlock value and open opportunities for foreign currency denominated business.
"We have built our brands and developed new ones to consolidate our position as a manufacturing concern," Mr Govere said.
The Harambe chief executive also revealed the imminent divestiture of the parent firm from the day-to-day operations of the subsidiaries.
"In the challenging economic climate that characterised the 7 years of existence, we have grown phenomenally. This has resulted in a situation where Harambe Holdings is ready to divest itself as a holding company to become a mere investor in the companies it created. Our companies are now ready to craft their own future as autonomous entities".
Commenting on the status of the economy Mr Govere said that Harambe sees itself in the bigger picture and higher scheme of things in the Zimbabwean landscape.
"We believe in the blue ocean strategy where the economic environment can never be bad; but bad business practice can result in failures of unimaginable proportions."
As part of its corporate social responsibility, Harambe committed $60 trillion to the Harambe Holdings Bursary for the Underprivileged, the Boy Child and Girl Child Fund.
Originally an investment company, Harambe now has interests in bakeries, food processing, beverages, paper, plastics and flooring.
The bakeries division is comprised of Superbake, Downings and Mitchells. Intertec Foods produces bakery premixes and has diversified into a food technology entity. The beverages division boasts household brands such as Tacoola cordials and Glendale Spring mineral water. Global Marketing and Trading is the distribution arm for all Harambe Holdings products.
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