Zimbabwean tycoon Zed Koudounaris’ Innscor opens $30 million Bakers Inn unit

Feyisayo Ajayi -

Key Points:

  • Innscor Africa opens a $30-million automated bakery in Zimbabwe, boosting daily production by 160,000 loaves.
  • Advanced machinery streamlines production, reducing waste and fuel consumption. Plans for a second line aim to create 33,000 jobs.
  • The bakery supports Zimbabwe’s re-industrialization efforts and strengthens Innscor’s position in the food sector.

Innscor Africa, a leading consumer goods group controlled by Zimbabwean businessman Zed Koudounaris, has officially opened a state-of-the-art automated bread factory in Bulawayo, the country’s second-largest city.

The $30 million Bakers Inn unit boasts cutting-edge technology capable of producing roughly 160,000 loaves daily, marking a significant leap in domestic bread production capacity.

The Bulawayo bakery features advanced machinery, showcasing a significant step forward for Zimbabwe’s baking industry. Automation streamlines production processes, ensuring consistent quality and improved efficiency.

Innscor opens bakery, plans expansion

Innscor Africa’s chairman, Addington Chinake, hailed the investment as a major boost for the Matabeleland region, aligning with the government’s decentralization and re-industrialization initiatives.

“The plant which is automated to current global standards making use of modern technology and robotics will result in the improvement of bread quality, consistency, and production efficiencies thus reducing waste as well as utilizing less fuel in the production process,” Chinake said.

He added that plans are underway to install a second production line for $135 million, further boosting regional capacity and creating an estimated 33,000 direct jobs.

Diversified giant with deep roots

Innscor Africa, a diversified pan-African investment holding company, specializes in food manufacturing, distribution, and retail. Zed Koudounaris, who co-founded the company in 1997 with Michael Fowler, holds a 2.5-percent stake in the industrial conglomerate.

The reclusive billionaire businessman is known for his influence across various industries, particularly his role in building the success of Innscor’s core fast-food brands.

Innscor Africa hits milestones with revenue, profit gains

Innscor Africa achieved notable milestones in fiscal 2023, reporting revenue of $480.4 million and operating profit of $50.7 million. This strong performance stemmed from improved capacity utilization across core manufacturing businesses, new product launches, category extensions, and optimized distribution strategies.

The consumer goods group’s $30 million investment in its Bulawayo Bakers Inn unit underscores its commitment to cutting-edge technology and domestic production within the evolving Zimbabwean market. This strategic move further solidifies the company’s leadership position in the country’s food industry.