Local manufactures have been urged to capitalising on local raw materials in the face of prevailing foreign currency shortages in the country.
Industry and Commerce Minister Honourable Mangaliso Nqobizitha Ndlovu said the City of Kings and Queens still has the potential to be the industrial hub as it is attracting new investments with Paramount Garments, Tregers, Lobels and PPC Cement making the list of the country’s top exporters in the manufacturing sector and the export incentive introduced by the Reserve Bank of Zimbabwe has aided the companies in achieving this.
“It is also pleasing to note that despite prevailing challenges, Bulawayo has been able to attract some investments which include Datlabs as it is retooling their plant in order to produce a wider range of pharmaceutical products, with Tristrence Suppliers investing in a new plastic packaging plant. Sondelani Ranching has invested in a new tomato paste plant. Blue Ribbon also invested in a new milling plant, Auto Tyres also bought tyre making equipment but it is sad to note that the company has been unable to continue operating due to other constraints,” he said.
Confederation of Zimbabwe Industries (CZI) Matabeleland Chapter president Mr Joseph Gunda urged business owners to adopt a sober pricing system.
“Business owners should desist from profiteering and getting advantage of the consumers. Look at what happened during the January 14 protests. People looted in the shops because they were angry at the over pricing of goods and unnecessary price hikes,” he said.
The revival of Bulawayo industries is critical in achieving national economic growth targets under the new blue-print, the Transitional Stabilisation Programme (TSP).