adminMolline Gagare Business Reporter
BULAWAYO Provincial Affairs Minister Nomthandazo Eunice Moyo says the country’s businesses should move away from their comfort zones and take advantage of opportunities in value addition and beneficiation to stimulate the economy and increase earnings.In her welcome speech during the International Business Conference held at the Zimbabwe International Trade Fair (ZITF) in Bulawayo yesterday, Moyo said value addition provided enough room for industrial growth.
“It’s time that local business took advantage of the opportunities that are abundant in value addition. Indigenous businesses should be processing finished goods themselves rather than importing at a high costs,” she said.
“The theme for this year’s trade fair ‘Seizing opportunities to stimulate trade’ is aimed at local businesses growing their operations and in the process stimulating economic growth”.
Moyo said embracing value addition would allow the businesses to the determine prices of finished goods and gave an example of the mining industry.
“If local businesses took a step further and ventured into value addition they stand to gain a lot from exporting. Those in the mining sector can venture into making jewellery and maximize on getting the raw materials locally. The starting point is investing in setting up the facilities and the rest will be reaping the benefits of hard work,” she said.
Moyo said businesses should capture the message in this year’s ZITF theme and mobilize their resources to increase trade.
The minister also advised city businesses to use their location advantage to be suppliers of finished products in southern Africa.
“The ZITF theme is a wakeup call for business people to take advantage of the opportunities available. Taking a step to try something out of the comfort zone shows growth in the business community and will eventually spill over to become economic growth.
“Bulawayo is an ideal location to establish a business targeting the Southern African market because it is central. Trade stimulation will surely establish the city as the industrial hub of the nation,” said Moyo.
“Employment will be created as soon as businesses start venturing into value addition. The prices of luxury goods like jewellery which is imported at exorbitant prices will gradually come down locally.”
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