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Pride Mahlangu, Business Reporter
THE banking sector has been called upon to support exporters to assist the country in generating more foreign currency to meet economic development needs.
Export promotion agency, ZimTrade, stressed this point during a stakeholder session on marketing and branding for international competitiveness (MBIC) training programme that was held in Bulawayo on Wednesday.
Associate trainer for ZimTrade, Mr Dennis Choguya, said: “We need to have certain conditions in the environment. Our export companies need to have access to cheap or affordable financing instruments so that they can borrow at good interests rates to fund exports”.
He also said there was a need for Government to avail certain incentives like tax breaks or tax holidays to exporters in recognition of their contribution to the economy.
“We say exports are the way out of the country’s predicament but everyone is trying to do things to benefit themselves. Banks are saying right now they don’t have a package for exporters.”
“But we need them to come out and support exporting companies for them to be able to access shipment facilities and be able to go for marketing courses.”
The export promotion agency also urged Zimbabwean exporters to follow the footsteps of export-oriented countries like Ethiopia and Malaysia, by identifying product villages. For example, Zimtrade said Matabeleland North could be branded as a rich timber reserve centre and be assisted to specialise in that area through provision of proper technology and other necessary resources.
The desire to boost exports comes at a time when the country is facing economic challenges linked to low domestic production due to a shortage of foreign currency among other factors. There is also hope that increased production and exports will assist in stabilising interbank exchange rates and ultimately strengthening the new local currency.
Despite the prevailing temporary setbacks, ZimTrade has encouraged companies to remain focused and utilise existing opportunities to grow their businesses.
“True, we might be having some problems locally but that does not mean you cannot do anything if you go out there,” said Mr Choguya. — @pridesinstinctz.
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