This week, Government announced that priority will be given to the institutionalization of the Buy Zimbabwe Programme, along with the harmonization of standards and establishment of specifications to promote public procurement of locally available goods. The plan includes incentives for companies that support local industry, setting a 70:30 ratio favoring local products over imports.
Speaking to Great Dyke News, Buy Zimbabwe Chairperson Munyaradzi Hwengwere welcomed the move, emphasizing the critical role of government in driving national industrial initiatives. He noted that while the private sector has made significant strides, government involvement is necessary to unlock essential resources and ensure the initiative’s success.
“The Buy Zimbabwe initiative is not just about the private sector; it is a national project,” Hwengwere said, adding that such efforts contribute to job creation, wealth generation, and national pride.
Hwengwere also reflected on Buy Zimbabwe’s visit to South Africa earlier this year to study funding models. “The lesson was clear: private sector efforts alone are not enough. Government collaboration is essential for sustainable success,” he explained.
The institutionalization of the Buy Zimbabwe Programme aligns with the newly adopted Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP) for 2024-2025, which focuses on import substitution, value chain optimization, and rural industrialization. Under the plan, businesses will benefit from incentives, formalization strategies, and access to industrial parks.
The ZIRGP also promotes export-led growth, with a focus on regional integration through frameworks such as the African Continental Free Trade Area (AfCFTA). By strengthening the relationship between government and private stakeholders, the strategy aims to build resilience in Zimbabwe’s industrial sector and contribute to achieving Vision 2030.
