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Captains of industry in crucial indaba



CAPTAINS of industry will today hold a crucial meeting to review first quarter economic trends and map out how firms can navigate a rugged terrain characterised by concerns over global health as COVID-19 makes fresh waves.

Hosted by the Confederation of Zimbabwe Industries (CZI), the virtual meeting will see some of Zimbabwe’s top chief executive officers (CEOs) and economists present papers that will form the basis on which government will craft the mid-year fiscal policy review.

“We were doing an annual manufacturing survey where we look at the performance of the sector at the end of the year,” CZI CEO Sekai Kuvarika told NewsDay Business yesterday.

“We thought we need more real time or more frequent analysis about the performance of the (manufacturing) sector which brought about the need to have a quarterly survey.

“We also used to do a business confidence index which had not really become regular so this will give us frequent data on the performance of the manufacturing sector.

“It will give us frequent data on perceptions and outlook and business confidence on a quarterly basis like how the market confidence is like and how are they looking at the coming quarters. You want to be able to say at the end of the quarter this is how we are going,” Kuvarika said.

Today’s review will run under the theme: Securing the gains, sustaining the trajectory and mitigating risk. Former CZI president Busisa Moyo will be among the speakers that include economist Eddie Cross and industrialist Jimmy Psillos.

This will lead to the launch of CZI’s Quarterly Business and Economic Intelligence Report.

“We are moving towards the mid-term budget. We need to have data on the first quarter.

“We may not have data on the second quarter because it (mid-term budget) will be due then but at least we can relate the policy environment to the business and economic performance (during the first quarter),” Kuvarika said.

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