Zimbabwe’s companies are heading for the annual shutdown with the business community expecting nothing other than macroeconomic stability policies to facilitate growth next year.
It has been a year of mixed fortunes for key productive sectors with the mining and agriculture sectors performing beyond market expectations.
While the ZBC News has gathered that several companies are already heading for the annual shut down, 2019 should present growth opportunities, according to Federation of African Engineering Association president, Engineer Martin Manuwa.
“The year 2019 should be pivotal in addressing the needs of the country and unlock value on economic activities,” he said.
With lack of foreign exchange, limited availability of fuel, pricing distortions, old machinery, and resurfacing inflationary pressures, stabilisation policies are also important, said Association of Zimbabwe Travellers Agencies chairman Mr Ignatious Matungamire.
“The hope for growth is there but it is just a matter of time before all critical aspects can be addressed to foster growth and prosperity,” he said.
The economy is projected to register a 3.1 percent growth rate in 2019 down from 4.1 percent anticipated this year, making resuscitation of closed firms key, adds Insolvency and Restructuring Association of Zimbabwe president, Mr Claudious Nhemwa.
“There is that scope of business that needs to be addressed by focusing on what we can do to foster growth in the short to long term,” said Mr Nhemwa.
Gold, chrome, platinum, tobacco, and nickel have been the key pillars of foreign currency inflows this year.
The transitional stabilisation programme (TSP) is also seeking to diversify the country’s export base.