THE Confederation of Zimbabwe Industries (CZI) is working on policy advocacy with practical interventions designed to create an enabling environment for industrial growth.
This will promote a value chain and sectors approach to industrial development, the industrialists’ body said in written responses to NewsDay Business.
“This approach recognises that improving a single firm is not enough. Sustainable industrial growth depends on strengthening entire ecosystems of producers, processors, service providers and markets,” CZI said.
“Translating policy and economic analysis into business opportunities information is the next frontier of our work at the confederation. Companies can improve their export competitiveness by focusing on quality certification, modern packaging, production efficiencies and a better understanding of target market requirements.”
The country’s largest business member organisation said industrial development has been stifled by longstanding macroeconomic issues, including currency volatility, access to forex and limited access to long-term capital.
Since the beginning of the year, several companies have closed shop or opted for corporate rescue amid a deteriorating economic environment.
“Industrial development in Zimbabwe is constrained by several longstanding challenges,” CZI said in emailed responses to NewsDay Business.
“These include currency volatility, high production and utility costs, regulatory duplication, outdated machinery and limited access to long-term capital. Such barriers reduce competitiveness and dampen the sector’s ability to grow, retool, and export.”
- Mthuli Ncube abandons struggling consumers
- Fears of jobs carnage as crisis deepens
- Fresh warning over bank rate hikes
- In Conversation with Trevor: ‘Zim must invest in human capital’
Keep Reading
CZI revealed that it would promote the growth of the sector by promoting standards alignment, advocating for export incentives, and creating platforms for knowledge sharing and peer learning among export-ready firms.
This seeks to give the country have a better foothold in a larger market, such as the African Continental Free Trade Area (AfCFTA).
In 2024, CZI launched ‘Rules of Origin’ workshops in collaboration with the Zimbabwe Revenue Authority across all five regional chambers, aimed at helping businesses comprehend AfCFTA trade requirements.
“We also conducted AfCFTA Protocol on Women and Youth workshops, which supported SMEs, particularly women- and youth-led businesses, to navigate trade procedures and increase their participation in cross-border trade,” CZI said.
