Silo Foods opens 84 shops countrywide
May 24, 2019
SILO Foods Industries, which started operating as a fully-fledged commercial business unit in April this year, now has 84 shops countrywide. Silo Foods was established to stabilise foodstuffs prices on the market. The product range include mealie-meal, rice and sugar beans, salt, samp, bran, peanut butter, kapenta, Pearl Millet grain, flour, mixed fruit jam, coffee, maputi, and popcorn.
Silo Food Industries to begin operations 1 April 2019
March 26, 2019
The minister highlighted that the following steps of progress had been made towards operationalisation of Silo Food Industries:
1) That Silo Food Industries is set to begin operations in its new status from 1 April 2019
2) That various institutions have already expressed interest to partner Silo Food Industries; and
3) That Silo Food Industries requires US$54,7 million and RTGS $40 million to finance its operations over a 5-year period.
Taking into cognisance the critical role Silo Food Industries is set to play in the economy, Cabinet approved the following:
1) That the process of appointing the Silo Food Industries Board be expedited to give necessary strategic guidance and oversight to the entity.
2) That the funding proposals from potential strategic partners for Silo Food Industries be submitted for consideration and approval by Government; and
3) That Government’s minimum equity holding in Silo Food Industries be 26 percent.
Cabinet resolves to reform GMB
February 05, 2019
GMB to be split into two entities, that is, the arm responsible for the Strategic Grain Reserve function and the creation of Silo Food Industries as a commercial business entity.