Published: 25 November 2013

The Indigenous Business Development Centre (IBDC) says compelling firms to procure 60 percent of their requirements locally will boost the production capacity of companies and widen employment opportunities.

The comments from the IBDC come amid calls from the Confederation of Zimbabwe Industries (CZI) encouraging government to come up with a policy that will ensure procurement of products is done internally for economic growth.

IBDC vice president Cliff Chafausipo said this is a decision that has to be made at government level to ensure that local manufacturing industry benefits.

According to CZI congress resolutions, firms must procure 60 percent of their raw materials and other products locally to ensure that there is improved industrial capacity utilisation.

The local manufacturing industry has been constrained over the past five years owing to unavailability of long term funding compounded by the influx of imported products which are priced less compared to the locally produced ones.   
- zbc

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