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*Govt Injects $70 Million Into Silo Foods For Cheaper Foodstuffs*

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The unbundling of the Grain Marketing Board (GMB) into separate entities has resulted in the creation of a new entity, Silo Foods.

The company started operating as a business unit on 1 April this year and its mandate is to make basic goods more available and affordable.

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In an interview with The Sunday Mail, Silo Foods managing director Daniel Maregedze said:

> The Government has invested about $70 million in the company. This is in fresh capital injection, which will enable us to scale up our operations immediately.

> We have already been on the market, but now we are expanding our operations in a big way. On top of that, Treasury is finalising another package for capital equipment, estimated at US$55 million and $40 million over a three-year period.

> We started operating as a separate entity on 1 April. We are currently recruiting for key positions in order to capacitate the team to deliver on our mandate.

*Related:*

*UPDATED: Four Dead After Explosion At GMB Lions Den Depot*

*Full Text: Mnangagwa Passes Condolences, Orders All Silos To Be Inspected After Explosion At GMB Lions Den*

*More: The Sunday Mail*

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