By ZBC Reporter
ZIMBABWE’s food processing firms are expected to spur growth of the manufacturing sector after recording signs of recovery since the relaxation of lockdown restrictions.
A combination of the Covid-19 pandemic, widening gap between the official and parallel market rates as well as high costs had slowed down overall production levels for the manufacturing sector during the first half of the year.
However, with the emerging signs of stability on the back of the narrowed gap between the official exchange rate and parallel rates, sufficient electricity, access to fuel and relaxation of the national lockdown, hope has not been lost.
Speaking to the ZBC news ahead of the manufacturing sector survey for this year, Confederation of Zimbabwe Industries chief executive officer, Mrs Sekai Kuvarika said agro-processing entities, followed by cement companies, beverage entities, bakeries, cooking oil manufacturing companies and timber firms are taking the lead in the recovery of the sector.
“The much needed survey will provide the basis towards recovery of the industries at a time we need a lot to do in the recovery of the sector,” she said.
The annual manufacturing sector survey which is being extended to all producing companies will assess growth of the industry, capacity utilisation, value addition, total production, employment figures, exports data, new products and investments.
The post Food processing firms to spur manufacturing sector recovery- CZI appeared first on ZBC NEWS.