The manufacturing sector capacity utilisation for 2017 is expected to increase on the back of policy interventions introduced by the government and the central bank, according to the newly elected Confederation of Zimbabwe Industries (CZI) president Mr Sifelani Jabangwe.
According to the 2016 CZI State of the Manufacturing Sector Report, capacity utilisation for last year rose by 18 percent to 47,4 percent.
While high costs of capital, low domestic demand and funding constraints are posing a threat to the revival of industry, Mr Jabangwe says the sector is on a recovery path.
He says future growth will, however, depend on the commitment by industry to work with the government in crafting policies to solve resurfacing macro-economic pressures.
“Is it now up to all the relevant parties to focus on the future growth patterns,” he said.
The manufacturing sector capacity utilisation during the multiple currency system period, increased at 57,2 percent in 2011, before dropping to 44,2 percent in 2012, 39,6 percent in 2013, 36,3 percent in 2014 and 34,3 percent in 2015.