By Business Reporter- Schweppes Zimbabwe’s long-serving managing director, Mr Charles Msipa, has retired.
Msipa retired last month after 20 years at the helm of the beverage-producing company.
In a statement, Schweppes Holdings Africa said Mr Msipa joined Schweppes Zimbabwe Limited as sales and marketing director in 2005 and was appointed the managing director in 2006.
Before that, he worked for Coca-Cola Company for 13 years in diverse roles in Zimbabwe, Zambia, Malawi and North America.
“He was instrumental in the localisation of the shareholding of Schweppes Zimbabwe Limited in 2009, which included participation of management and employees. He has provided leadership to the company during a period of significant headwinds in the operating environment. Notable milestones include the investment in Beitbridge Juicing Company and the expansion in the brand portfolio,” reads part of the statement.
Mr Msipa also actively participated in and supported business member organisations such as the Confederation of Zimbabwe Industries (CZI), where he is a former president and member of the national council.
He is the past chairman of the Business Council for Sustainable Development Zimbabwe (BCSDZ), the PET Recycling Company of Zimbabwe and the National Competitiveness Commission (NCC), as well as a non-executive director of various entities.
Schweppes Zimbabwe is a leading manufacturer and distributor of non-carbonated still beverages under licence from The Coca-Cola Company.
The company’s product portfolio includes cordials, fruit juices, bottled water and flavoured drinks.
These products are marketed under well-renowned brand names: Mazoe, Minute Maid, Schweppes Water and Ripe ‘n’ Ready.
According to Delta Holdings, the third quarter trading update that ended December 31, 2024, Schweppes Holdings Africa recorded a volume decline of 27 percent for the quarter and 17 percent for the nine months, primarily due to significant price increases driven by the sugar tax.
“This resulted in a surge in imports of the flagship Mazoe Orange Crush from regional markets,” reads the trading update.
The update also said the volume was impacted by disruptions in the route to market arising from the fiscal regulations.
“The reduction in the sugar tax from January 2025 is a welcome development, although there are significant cost pressures such as the rising juicing fruit and sugar prices, which limit the opportunity to moderate retail prices,” Delta said.
According to Delta’s financials, the sparkling beverages volume declined by 16 percent compared to the prior year for the quarter and 1 percent for the nine months.