Staff Reporter
Dairibord Holdings Limited has refuted claims circulating on social media that it is shutting down its Zimbabwe operations, clarifying that its operations within the country remain strong.
The dairy giant reassured stakeholders that it is simply expanding its footprint into regional markets, including South Africa, but will continue operating in Zimbabwe as usual.
In a statement released yesterday, Dairibord’s Group Chief Executive Mercy Ndoro emphasized the company's commitment to Zimbabwe, calling the rumours unfounded.
"Dairibord remains firmly committed to its Zimbabwean roots and will continue to operate within the country. The company is investing in capacity enhancement to support its growth ambition," Ndoro said.
She added that these investments are a clear demonstration of the company’s confidence in its future and its dedication to serving both local and regional markets.
The misinformation had suggested that Dairibord was relocating its entire operation to South Africa, sparking concern among consumers and industry players.
However, Ndoro explained that the company is not abandoning its Zimbabwe operations but is seeking to replicate its success in new markets like Zambia, Botswana, and Mozambique to increase foreign currency generation.
"Our expansion into regional markets is aimed at optimizing supply and distribution channels, not at abandoning Zimbabwe. Dairibord’s operations remain the backbone of this expansion drive," she reiterated.
As Zimbabwe’s largest milk processor, Dairibord plays a critical role in the nation’s economy, processing 40% of the country’s raw milk supply.
The company has been a cornerstone of the country’s import substitution strategy, working with farmers nationwide to secure and process milk.
Ndoro noted that Dairibord’s operations are essential to the country's agricultural and industrial sectors, adding, "Dairibord’s continued operation in Zimbabwe demonstrates our unwavering commitment to the local economy and regional growth."
Following Ndoro’s statement, political and financial commentators weighed in, condemning those spreading the false claims.
Political analyst Sylvester Moyo called the rumours irresponsible and harmful to the nation’s business environment.
"These falsehoods about Dairibord’s closure are not just misleading but are an attempt to create panic and destabilize the country’s economic prospects," Moyo said.
He urged people to avoid spreading unverified information that could harm investor confidence.
Economist Faith Nyamukapa echoed similar sentiments, noting that spreading false claims about a company as pivotal as Dairibord only serves to paint a false picture of Zimbabwe’s business climate.
"The individuals circulating these rumours want to portray Zimbabwe as an unfavourable destination for business, which is far from the truth. Dairibord’s continued investment in local operations speaks volumes about the resilience and growth potential in our economy," Nyamukapa said.
Financial expert Blessing Masuku added that such claims could have damaging ripple effects on the broader economy, creating unnecessary panic among consumers and investors.
"People need to understand the damage caused by spreading unfounded rumours about companies like Dairibord. The business environment in Zimbabwe is recovering, and spreading falsehoods only seeks to tarnish that progress," Masuku said.
Dairibord remains listed on the Zimbabwe Stock Exchange and continues to be a trusted provider of milk and dairy products both locally and regionally.
As Dairibord continues to grow its regional presence, the company remains a vital player in Zimbabwe’s agricultural and industrial landscape, reinforcing its role in driving both local and regional economic growth.
