Zimplow bullish about Government

Published: 04 September 2013

ZIMPLOW Limited is confident the new Government will adopt economic policies that favour agriculture, mining and infrastructure in what should positively impact its business.

Group chief executive Mr Zondi Kumwenda said President Mugabe clearly indicated agriculture, mining and infrastructure topped the list of Government priorities.

Presenting the group's results for the half year to June 2013 Mr Kumwenda said the strength of the incoming Government was its thrust on promoting the agriculture sector.

President Mugabe is expected to announce Cabinet for the new Government after his Zanu PF party won the harmonized elections held on July 31 2013.

"The strength of this Government is its thrust on agriculture; even globally agriculture is key for economic growth. The President announced agriculture will be key.

"As Zimplow we are poised to benefit from positives coming from the growth in agriculture. We have two sectors that we are market leaders; agriculture and mining," he said.

President Mugabe has on many occasions pledged Government support to agriculture and even indicated Government would support farmers with inputs this year.

He has also unequivocally indicated that mining would be the centerpiece of Zimbabwe's economic growth going forward considering the abundant mineral it possesses.

But for agriculture and indeed the entire economy to thrive President recognised the critical role that good infrastructure will play hence the need to address deficiencies.

But for the three sectors to optimally positively impact on its business and the economy in general Mr Kumwenda said Government will need to address liquidity challenges.

He said Government will have to create conditions that encourage foreign direct investment, inflows of foreign lines of credit and support companies that export goods.

Zimplow revenue rose to US$20 million in the interim from US$4 million having acquired Tractive Power Holdings midway through 2012 and disposing of Puzey and Payne. Profit for the half year came in at US$1,4 million from US$168 000 last year.
- herald

Tags: Zimplow,