Funding, competitiveness dominate CZI congress    

By Stanley James, Business Editor

THE Confederation of Zimbabwe Industries (CZI) annual congress kicked-off in Harare this Wednesday, with discussions on funding, industrial competitiveness and manufacturing sector growth, taking centre stage. 

The three-day CZI Annual Congress started with captains of industry and commerce reviewing the state of the manufacturing sector, current achievements, challenges and the way forward.                             

The congress, which is being held when the manufacturing sector has defied challenges to record increases in capacity utilisation, has also seen captains of industry providing views about future economic prospects.                 

“This is the only platform fo us the private sector to meet government and air our views about current challenges. On the top of our wish list is stability,” noted Jimmy Psillos, Industrialist.          

CZI president, Mr Kurai Matsheza said, “The sustainability of the sector hinges on tight monetary  supply to control inflation while providing an opportunity to really stabilise the economy.”

Speaking on the same matter, United Refineries Chief Executive Officer, Mr Busisa Moyo hinted on the role the central bank should play for the success of industry.

“Policy certainty is critical by ensuring the central bank is adequately funded to sustain the needs of industry and commerce,” he noted.

Government has praised the manufacturing sector for its resilience.                

“You can see for yourself that over 80 percent stock of goods are locally manufactured, evidence that the manufacturing sector is on course to recovery, so government will continue to work with the private sector,”  highlighted the Minister of Industry and Commerce, Dr Sekai Nzenza.         

Some of the issues under discussion at this year’s conference include rescue packages for industry, financing models, sustainability of production, exports development and impact of interest rates on output, among others.