dyton mupawaenda
Oliver Kazunga
THE annual congress of the Confederation of Zimbabwe Industries (CZI) begins in Harare today, with discussions mainly centred on strengthening value chains in the context of the African Continental Free Trade Agreement (AfCFTA).
African countries began officially trading under AfCFTA in January 2021, after delays caused by the coronavirus pandemic.
It is expected to boost intra-African trade and the World Bank estimates it could lift tens of millions out of poverty by 2035.
Zimbabwe ratified the AfCFTA in 2021 to pave the way for the country’s full participation in the bloc.
The AfCFTA aims to eliminate tariffs on 90 percent of goods traded between member states over a period of 10 years.
This means that industries across the African continent need to brace for stiff competition, and strengthening value chains is essential to ensure that Zimbabwean businesses are able to compete.
The AfCFTA is also expected to boost intra-African trade by 53 percent by 2035, with the potential to create up to 30 million jobs and lift 30 million people out of extreme poverty.
CZI president Mr Kurai Matsheza said the annual congress would focus on the opportunities and challenges presented by the AfCFTA.
“Our theme for this year is going to be ‘Answering the Africa Opportunity Call,’” he said.
“This is in light of the continental free trade area…we are saying we need to play our part. The globe is one, what happens here, happens everywhere else. We need to create industries that are able to compete globally.”
Mr Matsheza acknowledged that not all Zimbabwean businesses were ready to face the competition presented by the AfCFTA, but he urged companies to be agile and responsive to the changing landscape.
“Some of our members are ready to meet the opportunities and challenges presented by the AfCFTA, but there could also be some of our members who are not ready,” he said.
“This is the edge to everybody to say if you are not ready, you will not survive.”
Taking advantage of the strong linkages and interdependences between manufacturing and the agricultural sectors, the Government said it will focus on value chain development in areas such as fertiliser, soya, cotton, dairy, sugar, leather, pharmaceutical, bus and truck, engineering iron and steel and plastic waste value chains — considered low-hanging fruits for a structurally transforming economy.
Over 250 delegates are expected to attend the three-day event. Speakers include Industry and Commerce Minister Dr Sithembiso Nyoni, renowned businessman Mr Shingai Mutasa, and other key local businesspeople as well as international speakers.
The CZI annual congress plays a critical role in laying out the business and policy engagement agenda as well as shaping the manufacturing sector’s short, medium, and long-term policies.
Online Reporter