Chronicle Editor
Pride Mahlangu, Business Reporter
INDUSTRY is optimistic for better fortunes this year if power and foreign currency constraints are addressed.
While Government has laid out progressive policies guided by the Transitional Stabilisation Programme (TSP) and Vision 2030, the industry and business sector last year suffered a host of operational constraints ranging from power outages and inadequate foreign currency among others.
This has dented the desired positive growth in different sectors of the economy such as manufacturing, mining, agriculture and tourism.
In separate interviews yesterday, industry and business representative organisations said they were looking forward to a better trading environment should the major issues choking productivity get addressed.
Confederation of Zimbabwe Industries (CZI) vice president Mr Joseph Gunda said they are expecting to conquer the challenges facing manufacturing sector.
“We look forward that at the macro level the Government works hard to ensure there is consistency in power supply to the industry, as you are fully aware that industry is driven by power.
“Without power, we remain compromised,” he said.
“Then there is the issue of forex for importation of raw materials, we need to see the interbank working and providing the industry with a platform for us to obtain the forex on a willing buyer-willing seller basis.”
Mr Gunda said that if the two key areas are addressed in the first quarter there is optimism that the economy would register transformation and stimulate productivity.
“I think we need to move with speed especially now that we have got this threat of drought. We can’t have on one hand industry struggling with power and then, on the other hand, we have a threat of drought, it will be a disaster for our country.
“Our country is agriculture-based, but we need industry to mitigate the effects of drought,” he said.
The Association for Business in Zimbabwe (Abuz) chief executive officer Mr Victor Nyoni concurred saying they expect policy consistency, improved availability of foreign currency and strong engagement between the Government and businesses.
“We expect to see policy consistency.
“We do not expect the Government to bring about shocks from the political side. We expect minimised shocks from politics which has in the past caused several problems which businesses have been trying to tackle around,” he said
“We also expect that there will be availability and allocation of forex to our economy as well as a very strong interaction between the Government and business to the extent that the interest of business and commerce is taken on board.”
The Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland regional chairperson, Mr Golden Muoni said they expect a better 2020 which will increase growth and production if enablers like electricity and foreign currency are provided.
“In terms of manufacturing, we still expect the power to enable the industry to produce…we expect exports to increase so that we also increase the issuance of foreign currency,” he said.
Mr Muoni added that they were also praying for the rains so that the availability of water will facilitate farming and improve the availability of water and grazing land for livestock which will balance the agriculture sector thus growing the economy.
In his New Year message, President Mnangagwa declared that 2020 will be the year of higher productivity, economic growth, job creation and satisfying the needs of the people while committing to continue being a listening leader. –@pridesinstinctz.
Londile Moyo
Online Reporter