Moffat Mungazi
Lovemore Kadzura
Post Reporter
THE manufacturing and processing sector in Mutare has received a boost for its revival efforts with the opening of the Electrosales timber processing plant in the Nyakamete Industrial Area.
The plant, operated by Powerspeed Electrical, specialises in truss making and other lines, and is expected to create new jobs.
Recently presenting the company’s results, Powerspeed Group chairman, Mr Victor Gapare announced that the plant will support value addition and the production of various timber products, further enhancing the sector’s growth.
“One significant gap in our product offering has been timber, and a decision was made to rectify this. During the year, we created a new division called Electrosales Timber, and we have begun trading in timber and related products.
“Although still small, we can see the potential and expect significant growth over the coming years.
“We are investing in a timber processing plant in Mutare which will facilitate value addition and production of a variety of timber products,” said Mr Gapare.
“During the period under review, the group only opened one new branch, being the Madokero Branch which opened in May 2024. Meantime, the focus remained on getting more out of the existing branch network.
“However, much of the challenges came from the building materials, which highlighted the lack of space in several of our branches. Efforts are underway to address this shortcoming through expansion or more efficient utilisation of the space available.
“ Maintaining reliable supplies of products continued to be another significant challenge which absorbed a large amount of management effort, however we are pleased to report that we have been able to maintain and expand our offering to our customers.
“Access to capital to fund our expansion programme has been a significant problem. Zimbabwean banks and financial institutions continue to struggle with liquidity and cannot be relied on to provide capital while interest rates remain inordinately high driven by perceived country risk.
“Despite the continuous problems that we face in our day-to-day operations, we remain committed to pursuing excellence in all our endeavours.
“We firmly believe that our diligent drive for sustained improvement is the only thing that will enable us to maintain our position as the leading hardware supplier in Zimbabwe,” said Mr Gapare.
Online Reporter