admina SME revolving fund that would see the former providing capital equipment to Sedco clients.
The company is an agent for a company called Zhauns, which creates business opportunities for small enterprises and provides capital equipment.
The agreement, however, does not rule out other suppliers from supplying Sedco applicants with machinery.
Westia Group managing director Mr Paul Petros said one of his firm’s major aims was improving the competitiveness of local products on the export market.
“We are also exploring new technologies from countries such as India, China and Brazil in order to bring Zimbabwe to the fore of manufacturing sophistication.
“Our aim is to make Zimbabwean products both competitive and that they are of high value on the international market. This will aid us in reducing and wiping out the trade deficit of US$1,4 billion that was experienced in the six months to June this year,” he said.
Mr Petros expressed gratification to various authorities for availing Zimbabwean micro-entrepreneurs with opportunities to start or expand their businesses.
He commended the Government for re-introducing duty on foodstuffs as it will boost local industry ahead of attaining a US$100 billion economy by 2030.
Westia Group is encouraging local producers to take advantage of lines of credit such as the Zimbabwe Economic Trade Revival Facility Fund that was availed by the Government and Afreximbank in order for local companies to access affordable capital.
Online Reporter