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Prosper Ndlovu Senior Reporter
THE newly appointed Minister of Industry and Commerce, Cde Mike Bimha, yesterday pledged to prioritise the revival of industries in Bulawayo, saying a vibrant manufacturing base in the city was critical in achieving meaningful economic growth.In an interview, Cde Bimha, who was the Deputy Minister in the same ministry in the previous Government, said the roadmap for revamping industries was already in place but should be reinforced through financing.
“Resuscitating industries in Bulawayo is a priority because this city used to be the country’s industrial hub. Our party campaigned on the basis of a manifesto and when people give you the mandate you have to deliver.
“I will look at how best to ensure the promises we made are realised.
“Sourcing funding for the recapitalisation of companies is a major issue and that will be our focus,” said Cde Bimha.
He said he would use his term of office to intensify stakeholder consultation across the board with the view of getting their input on how best the companies could be financed.
Cde Bimha said such an approach would provide a holistic framework that would consolidate the Zanu-PF election manifesto, which laid out a programme of empowerment based economic development.
Cde Bimha said while funding facilities like the Distressed Industries and Marginalised Areas Fund (Dimaf) would be maintained, his ministry would review the facility to improve its effectiveness.
There was a concern that Dimaf, which was meant to recapitalise Bulawayo companies, failed to bring the expected results because the then Finance Minister, Mr Tendai Biti of MDC-T did not release the required funding.
Bulawayo companies complained that the $40 million allocated to the fund was not enough and the situation was worsened by the stringent conditions set for companies to qualify for funding.
Cde Bimha expressed confidence that meaningful industrial growth would be achieved this time around given the fact that the new Cabinet has the same ideological thrust.
“This is a collective effort that requires us to make synergies with different investors and this would not be a problem since all our ministers share the same vision.
Other sister ministries have to ensure that enablers such as water, electricity and coal are available to boost investment,” said Cde Bimha.
He said Government will find ways of managing the issue of cheap imports while promoting the “Buy Zimbabwe Campaign” in order to support local manufacturing companies.
The Minister said he will also ensure that the Industrial Development and Trade Policy documents that were launched last year were fully implemented while pushing for the integration of local companies with other regional players.
In his address to the media soon after swearing-in of his new Cabinet at State House in Harare on Wednesday, President Mugabe emphasised the need to revive ailing industries, saying the next five years should enhance continuity of work that was left undone by the previous Government.
He said the revival of Bulawayo industries must be given due attention and challenged new ministers to lead the Government into action.
“Bulawayo is like a dead city now. We must enliven it. We must bring back that capacity which it had, industrial capacity it had and do much more and bring back even that employment capability which it had,” said President Mugabe.
Close to 100 companies have closed shop in Bulawayo in thepast decade leaving thousands of workers jobless while the few remaining firms are operating below capacity due mainly to lack of working capital.
Industrialists have called for the adoption of innovative strategies to revive industries. Economists believe Bulawayo has many investment opportunities in the energy production sector given the city’s geographic location.
They say Matabeleland region has a lot of sunshine and is closer to raw materials required in energy production, hence better placed to establish new private power generation plants that could feed into the national grid.
Online Reporter