PepsiCo deepens its commitment to Ethiopia with $40 million cash injection | The Guardian Nigeria News


CAPE TOWN, South Africa, 1 November 2022, /African Media Agency/- PepsiCo is finalizing an investment proposal of approximately USD 40 million(ETB 2 billion)to expand its Senselet snacks business in Ethiopia, and is considering the possibility of further investments in the country to expand the company’s portfolio beyond snacks.

Senselet is a wholly owned PepsiCo subsidiarythat produces chips under the brand name SUN Chips. The company was established in 2015, the potato processing site was constructed in 2017 and commercial production started later that same year.

Chris Wijnterp, GM of PepsiCo’s Foods unit in Ethiopia explains that “the investment is further proof of the confidence that PepsiCo has in the potential of the country for economic growth.

“This cash injection will allow us to increase our production capacity for snacks tenfold” adds Wijnterp and clarifies,“This also allows us tofurther leveragePepsiCo’s expertise to help accelerate the growth of…

Source: Guardian Newspaper