Clothing sector benefits from forex auction system

By ZBC Reporter

The spin off effects of the reserve bank of Zimbabwe foreign currency auction system are being felt in Bulawayo’s garment manufacturing industry which is now supplying major retail clothing companies throughout the country.

In an interview with ZBC News Operations Director at TICOZ Enterprises Ms Tafadzwa Gumede noted new investments in spinning and weaving as keys to the creation of more employment opportunities in Bulawayo.

We can’t continue importing when we have raw materials, so we have to look and explore into the new materials. We are also currently training women from disadvantaged communities. We are also appealing to other orphanages that have girls so that we equip them with a skill and they can have a starting point in their lives,she said.

Touring the clothing factory, the Minister of Women Affairs, Community and Small and Medium Enterprises Development, Dr Sithembiso Nyoni said government is impressed with strides made in the cotton value chain and will continue supporting companies pursuing value addition.

As government we will continue to supporting women led companies such as these and we are impressed with what we saw today. We want to involve them in the Dubai 2020 fashion month. We have a lot of cotton and if a company like this would go into value chain especially that it is a family led company. We want to encourage that very much,said Nyoni.

Zimbabwe’s clothing and textile industry has largely been affected by stiff competition from imported products, obsolete machinery, and lack of working capital for retooling purposes.

However, continued funding through the cushioning facility has energised the sector as the country’s economy continues to recover.

The post Clothing sector benefits from forex auction system appeared first on ZBC NEWS.

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