Published: 04 September 2017

The government and industry have been called upon to increase their synergies on value addition as a strategy to enhance capacity utilisation which currently stands at 47 percent.

The Confederation of Zimbabwe Industries (CZI) says the value chain approach remains the most efficient strategy towards reviving industry in an economy that also needs to be nourished by foreign direct investment to boost the nostro balance.

In his address at a breakfast meeting in Bulawayo, CZI president for the Matabeleland chapter Mr Joseph Gunda said more than 350 companies in the city are in the process of recapitalisation and need government support in terms of foreign currency allocation.

He said the central bank must consider prioritising companies that need to procure inputs when allocating foreign currency.

Mr Gunda also encouraged local companies to consider local procurement of needs that can be found locally to curb on unnecessary leakages of forex.

Bulawayo, which used to be the country’s industrial hub in past years, needs heavy capital injection to revive it.
- zbc

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