South Africa-based packaging firm Nampak is set to expand its presence in the domestic market by investing $250m to establish a new drinks container facility in Angola.
The company has generated 13% of its total revenue through African operations outside South Africa during the past six months starting from March 2013.
With the new facility, the company plans to support its increasing business in the continent’s growing economies.
Earlier, Nampak has manufactured cans in Angola for the US-based beverages manufacturing firm Coca-Cola.
Standard Bank Group Angola head Pedro Coelho told Bloomberg that the company wants to be the lead bank on the project for which the packaging firm was still arranging finance.
"If a company wants to be in sub-Saharan Africa, it needs to be in Angola," Coelho added.
Image: Drink can. Photo courtesy of Free Digital photos