ZimTrade will next month exhibit at the Source Africa Fair to be held in South Africa next month, the continent’s biggest trade exhibition for apparel, clothing, footwear and textiles products.
Increasing the country’s exports is one solution the country has been fervently seeking with ZimTrade going on an overdrive to promote exports by local companies.
Next month, the export promotion body will exhibit at the Source Africa Fair in Cape Town where more than 1 000 companies from across the continent, including 10 from Zimbabwe, will showcase their products.
“This fair is the third biggest trade exhibition in Africa and is held annually in South Africa. It presents an ideal platform our local companies to venture into the export market,” said ZimTrade Acting Director of Operations, Mrs Vuyiswa Mafu.
Due to the inefficient value chain models in the sector, many companies have failed to increase their capacity, hence the exhibition will provide an opportunity to meet with suppliers of raw materials as well as export market.
“Companies in the leather and footwear industry have failed to get raw materials to boost production. The fair will allow our companies to create synergies with international suppliers in order to boost capacity,” she said.
The latest figures from the Reserve Bank of Zimbabwe show that exports have surged over the last few months owing to a cocktail of measures being employed by the government to increase the country’s foreign currency receipts.