Nampak tightens belt at home as it eyes growth in rest of Africa

Beverage, food and nonperishable goods packaging manufacturer Nampak will continue to tighten capital expenditure (capex) and cost controls as it enters the 2016 financial year, citing continuing volatile conditions in its primary markets, but it plans to continue its acquisitive approach to the emerging African markets. The South African group experienced operational difficulties at its glass and Bevcan factories over the year, CEO André de Ruyter said in a statement on Thursday, adding that these were being dealt with through “targeted operational excellence initiatives”.