Zim industry targets more exports after registering growth

The country’s manufacturing sector is targeting export competitiveness after defying Covid-19 induced shocks by registering increased production capacity last year.                     

Despite limited working hours due to the Covid-19 pandemic, operating constraints and machine breakdown, data released by the Confederation of Zimbabwe Industries (CZI) at a virtual economic symposium reveals that production capacity rose to 47 percent last year from 37 percent in 2019.

CZI Chief Executive Officer Sekai Kuvarika highlighted that this was built on the back of exchange rate stability and the drop in inflation.

“Indeed, we are on the sound track to recovery so we anticipate further improvements with exports being key to survival,” she said.              

Industry and Commerce Minister Dr Sekai Nzenza commended the manufacturing sector’s commitment to production.            

“The resilience from the sector is highly appreciated and we expect further growth from the sector,” said the minister.              

The data also shows that there has been a further improvement in the availability of locally produced goods in the country’s retail markets.          

The post Zim industry targets more exports after registering growth appeared first on ZBC NEWS.

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