mining sector.jpgThe mining industry has been ranked the top performer in terms of productivity since January this year compared to other sectors of the economy.

 

According to a latest National Industrial Production Census carried out by the Zimbabwe National Statistics Agency (ZIMSTAT), the mining sector has operated above market expectations, registering a 51% increase in terms of productivity, followed by food production, which accounted for 48%, services industry 46%, agriculture 44%, manufacturing 43%, among other key sectors of the economy.

 

The survey, which focused on the general business operating climate, investment trends, changes in capacity utilisation and production constraints, has revealed that business confidence in the country has increased on the back of the stable economic climate.
 
kimberly float.jpgZIMSTAT Director, Mr James Takavarasha said while there has been a marked improvement in terms of business conditions within the economy, concern has been raised about cash-flow challenges, weak domestic demand, breakdown of machinery and shortages of raw materials.
 
“The survey has revealed that the mining sector is on top, remember this is a  process that we carried around the country to assess the volume of industrial indices and we hope our findings are a true reflection of the situation within the ground,” said Mr Takavaraha.

 

Findings by ZIMSTAT showed that while there has been a fall in cost per unit and an improvement in profit margins, respondents are calling upon government to mobilise adequate funding to revive industrial operations.

 

The local industry is focusing on recapitalising operations through courting local, regional and multilateral financial institutions on the provision of loans at concessionary interest rates.