Story by Stanley James Business Editor
Zimbabwe continues to register significant growth in the manufacturing sector as a result of government’s support and investments in machinery and equipment.
Official statistics seen by the ZBC News show that confidence in the manufacturing sector is on an upward trajectory as capacity utilisation is expected to recover from 52,1 percent this year to over 55 percent in 2025.
The growth is expected to be driven by government support, improved power supplies and increased agriculture output which will stimulate food processors including the beverages and drinks subsectors of the economy.
“Once again, it is through your support that we have seen it necessary to continue investing in Zimbabwe and we shall further focus on the needs of the markets in as far as consolidating the current gains is concerned,” Varun Beverages chairman Mr Ravi Jaipuria said.
As more manufacturing firms roll out new machinery and equipment projects, upgrade technology systems, leading to an over 80 percent local product availability, hopes are high that more investors will be coming to start businesses in Zimbabwe.
“We have continued to invest in Zimbabwe and we have launched new products reflecting our positive response to the Government of Zimbabwe so we are also investing in solar panels to consolidate current growth and focus on diversifying the market base with the sixth project testifying that indeed we are here to continue operating in Zimbabwe,” said the Confederation of Zimbabwe Retailers president, Mr Denford Mutashu.
A retooling funding facility, stable macro- economic climate, willing buyer and seller foreign exchange market, ease of doing business reforms, are being cited by government as indicators of measures to boost manufacturing production.
The Minister of Industry and Commerce Honourable Mangaliso Ndlovu said, “The Government is reaffirming commitment to support local industry and this is emanating from our thrust to consolidate the current gains and we shall do more to enhance growth riding on current strides and taking stock on progress through monitoring and evaluation.”
The growth in the manufacturing sector is also expected to ease the import bill for groceries and save foreign currency.
