Unilever, a big name in consumer goods, is leaving Zimbabwe after 80 years. The company says it’s due to tough market conditions and an unsustainable business environment.
This decision will lead to hundreds of job losses and raises concerns about the availability of goods in Zimbabwe.
In 2018, Unilever seemed optimistic about Zimbabwe’s future when it opened a new Royco plant in Harare.
At that time, Bruno Witvoet, Unilever’s Africa VP, said, “We have been in Zimbabwe for the last 75 years and believe in the country’s future. Our confidence is very high.”
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Now, Unilever has decided to exit Zimbabwe and will instead rely on local distributors for its products.
This change is part of a larger strategy to reduce operations in some African markets.
Unilever’s departure sheds light on the struggles of Zimbabwe’s retail sector and the challenges faced by investors due to the country’s economic and currency issues.
It highlights the difficulties businesses encounter in Zimbabwe’s unstable market.
