Story by Stanley James, Business Editor
As Zimbabwe seeks to facilitate the growth of companies in line with Vision 2030 aspirations, Treasury this Wednesday toured a local manufacturing firm in Harare to assess production trends, identify challenges and focus on viability.
It emerged during the tour that companies in the manufacturing sector have started benefitting from tax relief packages announced in the 2025 national budget.
“As statistics show that capacity for the manufacturing industry is averaging 52% from a baseline of around 37% in 2018, investments in new equipment and machinery is cited as the key drivers for growth, therefore the tax relief packages will offer reduced costs and enable the industry to grow,” said ProPlastics chief executive officer, Mr Kuda Chigiya.
Treasury explained the importance of the tax relief packages.
“We are expecting the manufacturing industry to continue with the growth trajectory and we are pledging more support to industries taking into account the gains that are being accrued and the need to further boost production hence the rolling out of such incentives will provide a positive impetus for long term growth,” said the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube.
Zimbabwe’s manufacturing industry is pinning hopes for growth on a favourable summer cropping season, improved power supplies, a stable exchange rate and availability of foreign currency.
