zncc vice prez ozwell binha.jpgThe Zimbabwe National Chamber of Commerce (ZNCC) says for the economy to achieve the envisaged 9,3% growth rate this year, there is need for stakeholder participation in addressing challenges that continue to threaten the economy.

The call comes at a time when stakeholders are engaging in coming up with growth strategies that address challenges that cripple economic prosperity.

In an interview with ZBC News in Harare, ZNCC Deputy President, Mr Oswel Binha said the growth projections pose a challenge to the local industry as the first quarter failed to achieve desired progress.

On the forthcoming June congress, Mr Binha said stakeholders will deliberate on how best to tackle the economic challenges and review progress made so far towards the country’s industrial policy and other policy frameworks that seek to improve the country’s operating environment.

Owing to unavailability of balance of payment support, the country’s industry will find it difficult to increase the capacity from last year’s 43,7 percent.
Zimbabwe is anticipated to grow by 9,3 percent this year having recorded 8,1 percent last year.

Stakeholders believe with the current capacity utilisation obtaining on the ground, which is believed to be below 40%, the target could be a challenge.