adminABUZ is a registered mutual support business association formed in Bulawayo in 2004 to look after the interests of businesses in Zimbabwe.
Currently, it has a membership of 105 companies with only four listed on the Zimbabwe Stock Exchange.
In a statement, the chief executive officer of the organisation, Mr Lucky Mlilo, said it was time their operations expanded to other cities.
“As ABUZ, we plan to open two chapters this year, one in Harare and another in Victoria Falls. The third will be in Kwekwe after we finish with the first two,” he said.
He said their hope was to see more capital available to industry so that capacity utilisation is enhanced.
“More capital is needed for capitalisation for our economy to keep growing and for companies to increase in productivity levels.”
At the moment, capacity utilisation is still at around 40 to 45 percent, a sign that the economy is not yet stable.
Mr Mlilo said the good performance by companies will also ensure that employment challenges are catered for.
“Enhanced capacity utilisation will obviously lead to employment creation and an increase in disposable incomes,” he said.
He said he was hoping for a rise in capacity utilisation in 2012 as productivity of local companies was still low.
“Productivity of local industries is still low and an increase in capacity utilisation to around 80 percent this year will be welcome,” Mr Mlilo said.
He challenged the Government to come up with policies that supported the growth of local industries and development of the economy.
He said most businesspeople were uncertain about the future due to the forthcoming elections and were not sure whether to invest in the economy or not.
“Economics and politics are interrelated. Businesses thrive in an environment that is conducive to operate in and where there is political stability.
“There is need for businesses to come up with short-, medium- and long-term plans for their operations hence uncertainty on the holding and dates of elections affects business planning,” he said.
He said conflicting statements from politicians on the issue of important events like elections do not augur well for businesses.
“Uncertainty leads to a wait-and-see attitude especially in major investment ventures thereby slowing down growth of industries,” he said.
Online Reporter