The Conferderation of Zimbabwe Industries (CZI) says by registering 45 percent capacity utilization, the country has lost domestic and export market share.
This was disclosed by CZI Chief Executive Officer Sekai Kuvarika as she presented key insights from the state of the manufacturing sector and proposals to revitalise industrialisation.
She was speaking during
the International Business Conference hosted by the Zimbabwe International Trade Fair in partnership with National Economic Consultative Forum and CZI.
The conference was running under the theme Revitalising Industrialisation for Zimbabwe’s Economic Resurgence.
Key points:
• 45% capacity utilisation reflects lost domestic and export market share, as many plants are designed to serve both markets.
• Regaining domestic market share is critical to gearing our industries for export growth.
• A rise in consumer goods imports against static local capacity utilisation signals unmet demand that is being supplied from outside the country.
• Unlocking idle capacity will increase output and create job opportunities.
• Improving competitiveness, particularly through the ongoing regulatory reforms agenda, will support this growth.
CZI continues to work with both the private and public sector to ensure a supportive policy environment that drives Zimbabwe’s industrial transformation.
Zwnews
