Story by Stanley James, Business Editor
ZIMBABWE’S manufacturing sector is targeting more investments in machinery to continue boosting industrial productivity.
The sector was this year not spared from the effects of the El Nino-induced drought and production challenges.
Confederation of Zimbabwe Industries Microeconomic Committee Chairperson, Mr Jimmy Psillos says the challenges faced by industry this year have, however, presented opportunities for growth in 2025.
He said, “Challenges were there of course but we also learned as an industry that it is through cost containment strategies that will enable us to stay afloat so as industry. The first element that we had to devise included the need to invest in machinery so as to unlock value to put shareholders. This actually paid off. In fact, the industry is ready for next year riding on lessons that we learned this year.”
Employers Confederation of Zimbabwe president, Mr Demos Mbauya says the country’s manufacturing sector also defied market expectations by maintaining production levels as the availability of locally produced goods improved.
“Given the challenges faced by the economy this year, the country could have been a net importer of goods but you can see for yourselves the vast availability of locally goods is an indication that industry is on the right path to growth trajectory, which is commendable. The year 2025 presents opportunities for us to grow our business portfolios, relook at cost benefits analysis and boost production to the extent that the good rains will further aid to the success of the industry,” he said.
The Minister of Industry and Commerce, Honourable Mangaliso Ndlovu commended industrial resilience in 2024 and outlined the 2025 industrialisation agenda.
He said, “This is that time when we relook at what has occurred and focus on the future. By so doing, it is in the interest of firms to further complement our policies as government that is tailor made at creating a conducive climate for companies to do their business in Zimbabwe. In fact, consultations for a new industrialisation policy will begin next year as we seek to consolidate current gains while focusing on possible ways to move forward for an industry that is regarded vital in employment creation, generating revenue to the state and unlocking value to the entire economy.”
In its 2024 manufacturing sector survey, the Zimbabwe National Chamber of Commerce projected increased production next year.
