Story by Stanley James, Business Editor
THE African Association of Automotive Manufacturers has expressed interest in reviving Zimbabwe’s motor industry through raising funds and joint ventures with local firms.
During a meeting with government officials and the private sector this Wednesday, the delegation noted that despite challenges which led to low capacity, Zimbabwe’s motor industry has the potential to recover.
“Remember our goal is to harmonise resources for the growth of the car value chains across the nation and it is our firm belief that the current developments will further enable us to focus on long term gains while creating a platform to unlock value while facilitating growth and recovery so our recommendations after this visit will help authorities to further come up with tangible plans to facilitate growth,” African Association of Automotive Manufacturers chief executive officer, Mr Dave Coffey.
The local car manufacturing industry is also expecting to learn from the delegation.
“The delegation will have an opportunity to visit different companies in the car manufacturing chains, a development we believe shall open opportunities for the sharing of ideas while unlocking value for the investors off course there have been challenges but hope has not been lost in as much as facilitating the growth of the sector is concerned, ” said Motor Industry Association of Zimbabwe president, Mr Lawrence Nyamushanya.
Government has pledged to work with the delegation.
“The government is really upbeat over the recovery of the local car manufacturing value chains, in fact the presence of this delegation gives a further impetus of regional confidence that will further set positive signals on what we intend to do as the Government in reviving the entire value chains,” Minister of Industry and Commerce, Honourable Mangaliso Ndlovu.
Official data shows that the limited capacity of the domestic car manufacturing sector has resulted in Zimbabwe being a net importer of vehicles.
