TM Pick n Pay invests $1,2m in Joina project

TM Pick n Pay Supermarkets has spent $1,2 million in setting up the Joina City branch, out of the $9 million earmarked for expansion projects in 2016.

Speaking on the sidelines of the opening of the Joina City branch yesterday, TM Pick n Pay managing director Dharmalingum Dass said since the economy was facing challenges, the retailer was investing for the future.

“We believe there is a future that’s why we are investing in the future and when the economy turns we will be well poised to take advantage of the future,” he said.

“We are doing reasonably well and opening a new branch shows we have confidence in this economy.”

 Dass said the group will this year open three branches in Chitungwiza, High Glen and the sorting office at a cost of $1 million a branch. The branches should be operational by August.

He said it would have another branch in Gweru and, possibly Kirkman Road, Harare, by end of the year.

“We are also doing a massive project in Borrowdale, called the Mopani Project value centre where we will have food court, drive in, pharmacy and a Pick n Pay supermarket. We will spend $4 million on the project and that will be complete by end of December. ”

TM Pick n Pay now has 56 stores countrywide. TM Pick n Pay Supermarkets is a subsidiary of Meikles Limited and opened its first branch in Kamfinsa in 2012 after the injection of $13 million into the group by the South African retail giant, Pick n Pay.

Pick n Pay has 49% shareholding in TM Supermarkets.

Source: Newsday