Chronicle Editor
Blessing Karubwa, Features Reporter
OVER the past few decades, Bulawayo has been facing deindustrialisation with closure of companies and factories becoming the norm forcing a considerable number of people out of formal employment while others relocated or simply downsized operations.
A number of factors both economic and political have conspired to bring down the country’s once glorious industrial hub but the coming in of the New Dispensation brought renewed hope as there is a lot of political will to revive Bulawayo’s industrial fortunes through recapitalisation of the struggling industries.
The re-engagement exercise that defined the initial stages of the Second Republic also paid off as some subsidiaries of international companies that were on the brink of closing down shop because of the political tiff gave up the idea.
Soon there was capacity utilisation and increased production in a number of factories giving hope of a resuscitated industrial hub while those companies that had inadequate foreign currency to import raw materials were encouraged to apply to the Reserve Bank of Zimbabwe so that they can be allocated forex.
The need for Bulawayo to reclaim its status as the country’s industrial hub remains an issue too close to the political leadership’s hearts with President Mnangagwa championing various initiatives to bring business to Bulawayo.
It is also in that light that after having successfully hosted the national Independence Day celebrations for the first time in the history of Zimbabwe last week, Bulawayo is again on the business spotlight with the Zimbabwe International Trade Fair (ZITF) expected to boost the city’s business prospects.
Reports that this year’s trade showcase has already attracted 71 new exhibitors is a pointer to the success of the Zimbabwe is open for business mantra.
The mantra was coined by the Second Republic against a background of economic isolation as a result of sanctions imposed on the country by the West post 2000 when the country embarked on the land reform programme.
For more than two decades now, Zimbabwe has been under economic sanctions that were meant to ground its economy and reverse the land reform but it has managed to sustain itself through home grown solutions to economic problems underpinned by intelligible economic blueprints such as the Transitional Stabilisation Programme (TSP) and the National Development Strategy (NDS 1 and 11)
Under National Development Strategy 1 (NDS1), the Second Republic ushered in a strategic platform to improve the country’s image and international relations aimed at attracting investment, and promote economic growth and national wealth creation within the context of the global economy.
Presenting on the state of preparedness to host the 62nd Edition of the Zimbabwe International Trade Fair (ZITF) Exhibition that is starting today in Bulawayo, the Minister of Industry and Commerce Dr Sekai Nzenza said there were a number of exhibitors who had booked the exhibition space for the first time.
“The nation is advised that a total of 514 direct exhibitors had booked exhibition space and 71 of these will be exhibiting for the first time.
A total of 14 foreign nations were expected to exhibit and these are as follows: Angola, Botswana, Ethiopia, Kenya, Malawi, Mozambique, Namibia, South Africa, Tanzania, Zambia, Belarus, Britain, Indonesia and Japan,” said Hon Dr Nzenza during the 9th post-cabinet press briefing on April 20, 2022.
The number of new exhibitors is testimony that the New Dispensation has played a pivotal role in seeking to harmonise relations between Zimbabwe and other nations through political and economic engagement.
Small to Medium Enterprises (SMEs) are also expecting to ride on the five-day long trade jamboree to secure big business deals as well as tap into the export market.
The SMEs are hoping for a better economic turnaround after the ZITF programme which is running just a week after Independence Day brought another business opportunity for them
Chief Operations Officer at Zimbabwe Institute of Foundries Bulawayo, Mr Dosman Mangisi, believes that the ZITF will contribute much to rebuilding the country’s economy.
Mr Mangisi encouraged local business people to make use of standard prices and avoid hiking prices saying proper business practices attract more investments.
He said ZITF provides businesspeople with opportunities through networking and interaction as some people would be having an appreciation of what the country offers.
“ZITF is coming into Bulawayo a few days after Independence Day in the city. The two events are obviously going to boost the city’s economy.
‘ZITF by virtue of it being an international trade showcase is expected to see businesses creating synergies especially that Covid-19 is almost under control and help grow the national economy.
It is going to bridge the two-year gap which was created by Covid-19 when businesses could not be provided with a platform to interact as borders were closed and there was restriction on movement.
“Business people in the city should try to maintain standards and have people appreciate a good business culture. He said the idea of wantonly hiking prices during ZITF scares away people who want to come to Bulawayo and do business or just have an appreciation of the city.
People should have a standardised way of doing things while showcasing the best that Bulawayo offers. It is my hope that locals will stay alert to that and think the future of Bulawayo rather than wanting to capitalise and shortchange the city in terms of investment,” he said
According to a representative of Small to Medium Scale Enterprise (SMEs) in Bulawayo, Mr Nketha Mangoye Dlamini, ZITF would be another marketing opportunity for Bulawayo.
Speaking in an interview, Mr Dlamini, the programme coordinator for Bulawayo Chamber of Small and Medium Enterprises encouraged players in the industry to be ready for the influx of people adding that it was an opportunity to market their products, learn new things from others and create business contacts.
He said the large number of SMEs coming in to exhibit at ZITF was a sign that the Second Republic’s drive to support all upcoming business people was bearing fruits.
Mr Dlamini says the participation by SMEs is a sign that they are reaching another level of growth where they are recognising the power marketing themselves around and beyond Bulawayo and Zimbabwe.
“Apparently, there are a lot of SMEs that want to participate and exhibit during the ZITF. A number of SMEs have booked exhibiting space and our extended gratitude goes to the government for assisting us as we can see that most of those stands were provided by the government.
“From Independence Day, there were a lot of activities around town so a number of SMEs made business. Now there is ZITF and its another chance in terms of business traffic in Bulawayo and people coming from all over the country and also from regional and international destinations, so obviously, the SMEs have big the potential to make it,” said Mr Dlamini.
He highlighted the readiness exhibited by the SMEs in showcasing their products and services to the world saying it was a good sign of confidence and a show that indeed, Zimbabwe was open for business and ready to dance with other giants in business. — @BlehKarubwa
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