Food and beverage giant PepsiCo is rounding out an investment proposal of approximately $40 mln to expand its Senselet snacks business in Ethiopia. It is even considering further investments in the country to expand the company's portfolio beyond snacks.
Senselet is a wholly-owned PepsiCo subsidiary that produces chips under the brand name Sun Chips. The company was established in 2015; a potato processing site was constructed in 2017 and commercial production started later that same year. The investment will allow PepsiCo to increase its production capacity for snacks tenfold. Also, the funding will further leverage PepsiCo’s expertise to help accelerate the growth of Senselet in Ethiopia by boosting its potato sourcing programmes, as well as its manufacturing and go-to-market capabilities.
The establishment of the company in Ethiopia in 2017 resulted in the creation of more than 300 jobs as well as the establishment of initial exports to two neighbouring countries. The new investment will create over 500 additional jobs, while also a strong CSR roadmap is defined to further strengthen the company’s role and contribution in local communities.
Source: bizcommunity.com