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Business Reporters
THE Zimbabwe International Trade Fair (ZITF) 2015 has come and gone. All the hype about the percentage space taken and the number of local and direct exhibitors has died down. Serious business people and the general public are now bothered by the dividend reaped from the showcase. Expectations are that the premier business trade platform would yield increased business growth through strong trade partnerships, expanded markets and substantial job creation.
Chronicle Business sought views from a number of economic analysts who highlighted the need to consolidate the synergies made during the exhibition and facilitating continued engagements to foster business growth.
This is a challenge for the ZITF Company, individual exhibitors and the government.
Going forward, Zwelibanzi Ndlovu, the founder and CEO of Stop to Start International suggests adoption of measurable ways to determine success of each trade fair.
“While the space and number of exhibitors seem to be key metrics, I would like to see a situation where we get statistics on the number of contracts signed between or with exhibiting companies, the value of contracts signed, the number of transactions concluded and the number of partnership agreement signed for franchises or dealership,” Ndlovu said.
“We should then be able to assess the statistics per sector and per country.”
Such an approach, he added, would bring long term business meaning to ZITF than treating it merely as a five day event.
Association for Businesses in Zimbabwe (Abuz) chief executive officer Lucky Mlilo said the next step is for ZITF exhibitors to start making follow-ups to the inquiries and orders made during the trade showcase.
“The next step now is for local companies that exhibited at the trade fair to make follow-ups on orders and enquiries made during the trade fair. Others during the event, talked about possible partnerships, so this is the time to make follow-ups on such issues,” he said.
Mlilo said quick follow ups were critical especially for small to medium businesses that need to expand their market share beyond the country’s borders.
Zimbabwe National Chamber of Commerce (ZNCC) deputy president Davison Norupiri said it was high time businesses that sought investment opportunities to start implementing whatever agreements they sealed with their foreign counterparts.
“Whatever was clinched and arrangements made, let’s implement and make follow-ups. For those promised export orders, they should now start making follow ups so that they can penetrate new markets and help build the economy by reducing the imbalance between imports and exports,” he said.
Norupiri said it was against this backdrop that local firms whose raw materials could not be sourced locally can utilise the opportunity brought by the ZITF to secure critical raw materials to capacitate production activities locally.
Bulawayo Chamber for Small to Medium Enterprises general-secretary Energy Majazi said before the end of the week, his organisation would evaluate the orders that some of their members generated at the trade fair and assist them secure loans from the Small Enterprises Development Corporation (Sedco).
“The chamber will before the end of this week evaluate the orders that our members have received and possibly assist them to get loans (working capital) from Sedco,” said Majazi. “Anything outside their order will not be entertained.”
This year’s ZITF that ran under the theme, “Stimulating Exports: “Seizing Opportunities to Accelerate Growth under Zim-Asset.”
The five-day event that ran from April 28 to May 2, was attended by 19 foreign nations represented by 32 direct and 103 indirect exhibitors.
The countries were Botswana, China, Ethiopia, Indonesia, Iran, Japan, Kenya, Malawi, Mozambique, Namibia, Pakistan, Poland, South Africa, the United States of America, Zambia while Cyprus, Germany, India and Switzerland were represented by individual organisations.
About 53 percent of the local exhibitors came from Harare, 33 percent from Bulawayo while the remaining 14 percent were from other cities and towns.
Online Reporter