Nestlé Announces US$428mn Capital Expenditure Budget

In a show of real faith to the South African market, food and drink behemoth Nestlé has announced that it will invest ZAR3.2bn (US$428mn) in Africa's leading economy over the proceeding five years. Having invested ZAR1.8bn in South Africa over the preceding five years, Nestlé's announcement falls in line with BMI's long-term view that emerging markets will drive sector growth. Bearing in mind that the firm has forecast its sales revenue in the country to increase 15% year-on-year (y-o-y) to ZAR8.5bn in 2009, the ongoing downturn does not appear to have overly affected the ongoing penetration of its brands across

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