Online Reporter
Rutendo Nyeve [email protected]
THE Government will launch a comprehensive Local Content Strategy this quarter aimed at transforming industry by incentivising domestic production and slashing the country’s ballooning import bill.
The Minister of Industry and Commerce, Mangaliso Ndlovu, revealed the plan in Victoria Falls recently, outlining two pillars that include incentives for manufacturers absorbing local materials and preferential public procurement.
Zimbabwe spends nearly US$5 billion importing goods it could produce locally.
Minister Ndlovu projected the interventions could lift growth from five percent to between 6.1 and seven percent.
The Local Content Strategy 2026–2035 seeks to link national demand to Zimbabwean productive capacity.
About US$3 billion worth of imports are products that can be made locally.
“This represents a substantial opportunity to expand domestic production and retain more value within our economy,” he said, adding that President Mnangagwa had challenged Government to reduce the import bill through home-grown solutions.
The strategy aims to convert import expenditure into local production, investment, employment and enterprise growth.
However, Minister Ndlovu said the plan was not about permanent protectionism.
Local goods must meet standards, offer consistent quality and compete on price.
“We are building enterprises that become progressively more productive, innovative and competitive, first in Zimbabwe, then across Africa and ultimately in global markets,” he said.
“The ambition is clear: to build in Zimbabwe, participate in Africa Value Chains and export to the world.”
To fund the transformation, Government is providing patient, concessionary capital through the Industrial Development Fund and the National Venture Capital Company of Zimbabwe.
The launch is expected to be a watershed for local manufacturers who have long sought deliberate policies shielding them from unfair import competition.
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