By Davison Vandira
Local content strategy lobby organisation, Buy Zimbabwe, is taking stock of the progress made in localising value chains across the country’s productive sectors.
Buy Zimbabwe is warming up to the Zimbabwe Agricultural Show which will run from the 29th of August to the 3rd of September.
The exhibition is anticipated to be the right platform to assess progress and analyse the potential of the economy to fully domesticate its production value chains.
Agriculture is Zimbabwe’s economic bedrock as it supplies industry with sixty percent of its raw material requirements which triggers upstream and downstream economic spinoffs.
Prospects of increasing and promoting the country’s agriculture sector which has proved to be a key catalyst of economic growth alongside its supporting activities is at the centre of industrialisation, hence Buy Zimbabwe is leaving no stone unturned on this drive.
Buy Zimbabwe General Manager Mr Alois Burutsa said, “From a Buy Zimbabwe perspective, we are very elated about the opportunity of analysing the progress that we have made with respect of pushing the local content policy which has multi thronged benefits that ranges from employment, import substitution and general increase in economic activities.”
Buy Zimbabwe’s drive for domestication of industrial value chains was buttressed by development economist Mr Titus Mukove, who described the importance of well-knit value chains for the economy to thrive.
“The local content strategy is very critical for Zimbabwe to reduce over reliance on imported raw materials which have proved to increase the economy’s vulnerability to foreign shocks. As such, in line with Vision 2030 aspirations, it is the right call to amplify this move now.”
Economists are convinced that Zimbabwe as an agro-based economy will reap huge benefits by localising its value chains to stimulate real economic activities.
They are equally confident that the domestication of industrial and agricultural value chains will minimise currency volatility and disruptions to Zimbabwe’s march towards the attainment of an upper middle-income society by 2030.