Confederation of Zimbabwe Industries (CZI) president, Busisa Moyo will today address the Midlands business community, with a view to finding a lasting solution to revive industry after more than 13 companies closed in the past six years.
BY MTHANDAZO NYONI
In a statement yesterday, CZI said Moyo will hold a meeting with the Midlands business community and exchange views with them on matters of interest and concern.
“The event itself is for the president to engage in a chit-chat session with the business fraternity and brief them on matters pertaining to business, the economy, inform them on engagements with policy makers, and exchange views with captains of industry and others in general,” CZI said.
According to CZI Midlands chamber, the province has witnessed the closure of more than 13 firms due to the economic problems besetting the country, resulting in 4 185 workers losing their jobs during the same period.
The companies closed down as they faced operational challenges.
Some of the big companies which closed shop include Ziscosteel, Lancashire Steel, Zimcast, ZimGlass, David Whitehead and Mike Appel. Despite the closures, some companies, such as Lesaffre Zimbabwe, have been revived. Formerly Anchor Yeast, the company was last year acquired by French firm, Lesaffre.
Other companies such as Bata Shoe Company, Sino Zimbabwe Cement Company, Midlands Metals, Dendairy and Steelmakers are performing well despite the economic challenges and have ramped up capacity utilisation to an average of 75%.
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However, capacity utilisation in the entire industry in the province and the country at large generally remains low, averaging 30%. Currently, CZI is developing national and regional strategic plans to promote the sustainable growth and development of the manufacturing industry.
The roundtable briefing is being extended to the Midlands business community, CZI and non-CZI members.
