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Mashudu Mambo
BUSINESS should construct processing industries in rural areas to curb rural-to-urban migration, said ZB Financial Holdings Limited (ZBFHL) board chairman Luxon Zembe.
Speaking during the Zimbabwe National Chamber of Commerce Business (ZNCC) Luncheon at the just-ended Zimbabwe International Trade Fair (ZITF), Zembe said the country has a number of natural resources in rural areas that can be utilised for economic growth.
“There are a number of areas in the country that are rich in natural resources and if you go to Tsholotsho or Nkayi district, there are many raw materials that are found in these areas.
“We have to come up with ways on how best we can develop industries in these areas to stop rural to urban migration,” he said.
Zembe stated that a number of raw materials are acquired in rural areas and there is a need to also set up processing industries.
“There is a need to set up different industries in rural areas because that is where most of the raw materials are acquired. As we come up with policies, our policy should really encourage industrialists and this can be done through coming up with incentives,” he said.
Zimtrade operations director, Similo Nkala, said they have identified a number of provinces with heritage-based products.
“In line with rural industrialization, each district is building towards contributing to national exports. Our target for 2030 is US$40 billion. We have provincial market studies where we identify what resources are available in each province and district.
“We’ve already identified them, currently focusing on heritage-based products like baobab powder and oil.
“The global value of the baobab powder market alone is estimated at around US$2 billion,” he said
Online Reporter