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 The manufacturing sector continues to experience production challenges with official figures from the Zimbabwe National Statistics Agency showing that the business confidence index in the industry dropped by more than 10% in the second quarter of this year from 25% in the same period last year.
The drop in business confidence for the sector is being attributed to a weak domestic demand, subdued volumes of exports, depressed productivity, low employment levels, inadequate lines of credit among other factors.
An industrialist, Mr Patrick Gwasera says there is need for urgent release of credit lines to revive productivity.
“There is need for urgent fresh capital injection for the industry,” said Mr Gwasera.
Zimbabwe’s manufacturing sector which registered a 57, 2% productivity growth last year is however experiencing production challenges that have resulted in several companies in Harare, Gweru, and Bulawayo scaling down operations.
In terms of the Industrial Development Policy, more than US$2 billion is needed to revive operations for manufacturing companies.
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