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Oliver Kazunga , Senior Business Reporter
BEITBRIDGE Bulawayo Railway (BBR) company secretary, Mr Raymond Shonhiwa has been elected president of the Confederation of Zimbabwe Industries (CZI) Matabeleland Chapter.
He takes over from Shepco Industries group chief executive officer Dr Shepherd Chawira, who has been at the helm of the regional chapter for the past two years.
Mr Shonhiwa will be deputised by the Zimbabwe International Trade Fair (ZITF) Company marketing and public relations manager Miss Stella Nkomo and Kango Products chief executive officer Mr Ignatius Mavunga.
The trio are coming into office for a one-year term after which they may seek re-election for another term.
The new regional executive members were elected at the CZI Matabeleland Chapter virtual annual general meeting that was held last Wednesday.
Commenting on the general state of industries in the country, Dr Chawira said: “The first half of the year saw industry increasing capacity utilisation underpinned by a stable economic environment over the last 10 months or so.
“This was as a result of the introduction of the improvements on the forex auction market, a declining inflation, stable power supply and availability of fuel, among other things.”
In 2020, industrial capacity utilisation increased from 36 percent to 47 percent and for Bulawayo alone, it rose to 46 percent last year from 36 percent in 2019.
“In the first quarter of 2021, capacity increased to 56 percent and we are on track to achieving 61 percent and over by end of year as per our projections, all things being equal.
“However, we are concerned with the effects Statutory Instrument 127 of 2021, which threatens industry’s capacity to generate forex and the inflationary pressures it has brought, especially on the United States dollar pricing, and the 30 percent increase in power costs.
“Our view as industry is that the two might trigger inflationary pressures, which will upset the stability, we have enjoyed all along,” he said. — @okazunga.
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