'Value addition in mining critical,' says Chidhakwa

Published: 10 October 2013

Mines and Mining Development Minister Walter Chidhakwa yesterday under scored the need to value add the country's primary commodities as part of measures to halt de-industrialisation.

Mr Chidhakwa, who was addressing about 200 delegates attending the ongoing Confederation of Zimbabwe Industries annual conference here in Bulawayo said, for years now, Zimbabwe and the African continent at large have continued loosing substantial revenues through exporting unprocessed goods.

The three day CZI conference, which started on Wednesday is being held under the theme "Imperatives for reversing de-Industrialisation" and it is being attended by senior Government officials, industrialists, diplomats and business people.

"We continue producing resources that are being value added elsewhere," said the minister.

"We are exporting low value goods and import high value added goods and if we are going to succeed, we must reverse that situation."

Minister Chidhakwa, an export expert in his own right noted Zimbabwe's natural resources were spurring growth of their markets at the expense of the local industry.

"I hear that a city called Surat (in India) has grown on the back of Zimbabwe diamonds," he said.

By adopting policies that promotes value addition, the country would be able to generate more jobs, improve the standards of living and drive industrial growth.

Speaking during the same session, Zimplow group chief executive Mr Zondi Kumwenda said Zimbabwe should push industrialization efforts focused on export growth funded by foreign direct investment.

Mr Kumwenda said there was need to identify and focus on strategic areas with significant comparative advantage.

"Key sectors are agriculture and mining," said "manufacturing naturally would arise out of the two"

He pointed out the need to re-align wage policies in line with multi currency system.
- herald