Manufacturing sector maintains 61% growth target

Zimbabwe’s manufacturing industry is sticking to its capacity utilisation growth estimate of 61 percent this year despite challenges threatening profitability, reports Zimbabwe Econonic Review.

After achieving a capacity utilisation level of 47% last year, the manufacturing sector is confident of an upward trend this year says Confederation of Zimbabwe Industries (CZI) President, Kurai Matsheza explaining how the 61% growth target for this year is achievable.

“The target is really achievable we are doing all our surveys and they are pointing to good production levels, I know there are challenges but we are really in talks with the relevant people to chart the way forward,” he said.

The country’s manufacturing sector has for years been operating below installed capacity.

This was further compounded by the covCo 19 pandemic which affected economies world over.

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