ADDIS ABABA- MIDROC Investment Group (MIG) disclosed that its subsidiary Moha Beverages Industry has resumed the production and marketing of the PepsiCo products after four months of interruption.
In a press briefing held here yesterday, MIG Deputy Head of Manufacturing Sector Akalewold Admasu said Moha has started the production of the soft drinks in five factories located in different parts of the country.
The deputy head also stated that the famous brands of PepsiCo were out of market and production of the product had ceased for four months due to management problems. “Accordingly, Moha has undergone structural changes and joined the MIG management as per the owner’s decision.”
Akalewold, who acknowledged forex crunch has remained a national challenge, indicated that the MIG has developed a well-devised strategy to secure essential raw materials for Moha’s operation and set the plan to produce 55 million cases annually. “In close partnership with PepsiCo, we have done the necessary study to launch new products.”
Amanuel Muhe, the newly appointed CEO of Moha Beverages Industry said at the news conference that the company has resumed production at some level in its five factories and plan to recommence operation in full capacity soon.
Amanuel recognized the difficulties that the company has been facing particularly with regard to internal management problems and shortages of foreign currency. “Nevertheless, we have been making strong measures that would enable the company to overcome such challenges.”
MIG Corporate Communication Head Seid Mohammed for his part noted that discussion was held with PepsiCo to set up a roadmap to resume operation and regain the soft drinks’ presence in the market while also preserving the workforce. The discontinued products including Pepsi will be made available to customers in desired quantity.
The discussion was also aimed to make reforms so that the famous brands of PepsiCo could get back to the market and Moha could make an important contribution to Ethiopia’s economy, Seid remarked.
Moha Beverages Industry has eight factories located in different parts of the country.
BY ESSEYE MENGISTE
THE ETHIOPIAN HERALD THURSDAY 1 FEBRUARY 2024
