tawandamusarurwa
Business Reporter
President Mnangagwa has said Zimbabwe’s industry has grown in capacity over the past few years as locally manufactured goods are now increasingly displacing imports.
Speaking at a Zanu PF star rally in Bulawayo recently, President Mnangagwa noted: “When the Second Republic came into office, if you went to any supermarket only 35 percent of the products in the shops were locally produced.
“But today, after five years, 80 percent of the products in any supermarket are locally produced, hence the Second Republic should be judged against that achievement.”
The local goods continue to dominate supermarket shelf space despite the suspension of duty on selected basic goods in May this year, as the Buy Zimbabwe Campaign continues to gain traction.
Zimbabwe is targeting to achieve over 90 percent of locally produced goods in the country’s shops by the end of the year.
Buy Zimbabwe general manager Mr Alois Burutsa told The Sunday Mail Business that the Buy Zimbabwe Campaign is on track and set targets are attainable.
“As Buy Zimbabwe, we were a bit worried that the removal of duty on selected imported products was going to result in the influx of foreign products.
“However, we are happy that we are not seeing much impact in terms of reduction in the consumption of Zimbabwean products. If you go into supermarkets, you see that they are still dominated by local products,” he said.
For a number of years, imported products from neighbouring countries dominated supermarket shelves, but the second Republic’s sound policies in rebuilding the economy are bearing fruit.
A survey by The Sunday Mail Business confirmed that local products continue to reclaim their space on shop shelves, with some retail outlets stocking a limited number of imports.
A manager with one of the country’s leading retail outlets, who declined to be named for professional reasons, said business is expanding, supported by production from local companies.
“As you can see on our shelves, it’s mostly local products. You will hardly find any imports except in the chemicals sector,” he said.
Buy Zimbabwe Campaign chairperson Mr Munyaradzi Hwengwere said the local industry has been buoyed by the good performance of the agriculture sector, which has ensured a steady supply of raw materials for the food industry.
“The President said we want to have 90 percent of local products by 2025 and we are on course to achieving that.
“We also need the Ministry of Finance to incentivise those using local products to ensure they keep the momentum,” said Mr Hwengwere.
One of the President’s strategies towards Vision 2030 is facilitating robust industrialisation and expanding job opportunities along major value chains.
The Government has ushered in commendable socio-economic progress that has improved the country’s manufacturing sector.
Through the National Development Strategy 1 (2021-2025), the domestic manufacturing sector is on the rebound as evidenced by the jump in capacity utilisation and more shelf space occupied by local products.
Capacity utilisation has increased from 47 percent in 2020 to 66 percent, which is a clear indicator that the manufacturing sector is on the rebound.
The development has also resulted in job creation, which is one of the key objectives of the Second Republic as the country drives towards a middle-income society by 2030.
Online Reporter