Speak with one voice on challenges facing industry, Byo business urged

Business Reporter
BULAWAYO businesses must speak with one voice on challenges facing industry in the city, a banking executive has said. In a speech read on his behalf at the MegaFest business awards in the city last week, Steward Bank chief executive officer Mr Kwanele Ngwenya said Bulawayo business community should continue lobbying relevant authorities including the Government to address de-industrialisation in the city.

Liquidity constraints, antiquated machinery and intermittent power supplies continue to weigh down efforts to revive industrial activity in Bulawayo.

“I am aware that there are initiatives that have been implemented to resuscitate Bulawayo industries.
“Such initiatives are more pronounced if they are implemented by yourselves rather than by others from elsewhere. The economic environment prevailing in the country has changed, evidenced by some old companies that have disappeared.

“There is need to continue to lobby relevant stakeholders to ensure that the challenges facing industries are addressed. There is urgent need for businesses in the southern region to talk with one voice. Sourcing of funds is critical,” he said, adding that the scope for integration was critical for economic revival.

In recent years, about 100 firms have closed down due to operational challenges resulting in more than 20 000 workers redundant.
About 150 individuals and corporates were honoured during the awards ceremony for their outstanding efforts to restore Bulawayo’s lost glory as the country’s industrial hub.

The awards ceremony ran under the theme “Restoring the glory of the industrial hub”.
MegaFest chief executive officer Dr Tafadzwa Matsika said they looked for companies that exhibited long-term strategic vision and customer care in their operations.