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Bianca Mlilo Business Reporter
THE Zimbabwe International Trade Fair (ZITF) will this year host the first ever manufacturers’ business breakfast conference where original equipment manufacturers will meet the local manufacturing industry to discuss retooling concerns. ZITF general manager Nomathemba Ndlovu revealed this at an exhibitors’ training workshop in Bulawayo last Wednesday where she addressed business executives on matters relating to the upcoming intra-regional trade fair.
“This is a first-time event jointly organised by the ZITF Company and the Confederation of Zimbabwe Industries targeted specifically at the manufacturing sector. It’ll take place at the Zimbabwe International Exhibition Centre on April 28, 2016” said Ndlovu.
“The focus is on industry re-tooling, hence original equipment manufacturers are being invited. In addition, financiers are also being invited to present funding models for the capital equipment that’ll be affordable to industry.”
Ndlovu also mentioned that although everything was in place for the meeting, a few details still needed to be ironed out.
Most of the country’s companies and parastatals are saddled with obsolete equipment, which has led to many companies and parastatals operating below capacity as the machinery in use cannot keep up with the force exerted on it.
Zimbabwe’s manufacturing sector is operating below 35 percent capacity utilisation while mining companies’ operations have also dropped to about 60 percent from 71 percent.
A majority of companies are struggling to raise capital to replace obsolete equipment and finance new ventures to ramp up production.
Online Reporter