CZI readies manufacturing survey launch

THE Confederation of Zimbabwe Industries’ (CZI) Manufacturing Survey is set to be launched next week amid numerous challenges that have negatively affected company performances, top of them the liquidity crunch.

BY BUSINESS REPORTER

CZI, annually, carries out a survey on performance of the manufacturing sector, capacity utilisation levels, and how the challenges could be addressed.

“We will be launching the Manufacturing Survey next Wednesday in Harare,” CZI president, Busisa Moyo said.

Early this year, Moyo told NewsDay the confederation expected capacity utilisation to increase by up to 10% in value terms by the end of the year, with the target that it reaches 65% by December 2017.

Moyo was pinning his hopes on the promise by the government to clear the $1,8 billion arrears to international financiers.

The country has so far paid one of the preferred creditors, the International Monetary Fund, $100 million from the Special Drawing Rights.

This has resulted in the removal of remedial measures applied to Zimbabwe that had been in place because of the overdue financial obligations to the Poverty Reduction Growth Trust .

The country has a month and half to clear the other arrears to African Development Bank and World
Bank.

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