The government has disclosed that the country has spent US3 billion on car imports in six years.
Industry Minister Mangaliso Ndlovu, disclosed this while officially opening a Tiger Wheel & Tyre retreading facility in Harare yesterday.
“We have spent close to US$3 billion on cars and over US$370 million on tyre imports, respectively, over the past 6 years.”
He said it is worrying that despite car imports and tyre demand, “there has not been any single local tyre manufacturer in Zimbabwe” since Dunlop closed in 2005.
The country’s manufacturing sector has not been performing well for years forcing it to depend on imports on almost everything.
This is putting tension on the country’s foreign currency reserves.
Zwnews
