Minister of Finance and Economic Development, Professor Mthuli Ncube says government fully supports the Buy Zimbabwe initiative to accelerate and deepen local manufacturing value chains.
Minister Ncube said this at the Buy Zimbabwe 2021 Annual Awards held last Friday in Harare.
‘I am happy that Buy Zimbabwe has partnered government in their campaigns for the promotion of, production, and consumptive preference of local products.
“On our part, we have committed to supporting their campaign with budgetary support that is targetted at ensuring acceleration and deepening of manufacturing value chains.
“Buy Zimbabwe and the Ministry of Finance and Economic Development are singing from the same page when it comes to the clarion call to increase local content.
“We are implementing measures to support and resuscitate various companies so that they move up the capacity utilisation line from current thresholds of 45 percent to 60 percent by 2025,” he said.
In her remarks at the awards, the Minister of Industry and Commerce, Dr. Sekai Nzenza stressed the importance of closer collaboration with the private sector to ensure thriving businesses.
“Our relationship with Buy Zimbabwe and the Ministry of Finance and Economic Development became stronger to focus on local production. Increasing private sector growth requires collaboration and it also requires us as a government to listen and accept that in the past our policies were not so consistent but l want to say through the ease of doing business we are creating an enabling environment where business can thrive, “ she said.
Speaking at the event, Buy Zimbabwe Chairman Munyaradzi Hwengwere called for closer collaboration between the government and the private sector to reduce the risk of fire outbreaks at Glen View Area 8 in Harare where a number of small to medium enterprises are manufacturing furniture and other goods..
“Every year Glen View Area 8 is razed to the ground by fire and the people there have their stock destroyed. We need collaborative efforts to mitigate risk. We also need to support them with quality certification, local content rating and finally market access,” he said.
A Buy Zimbabwe team visited the Glen View Area 8 SMEs last year during the Buy Zimbabwe Week in November on a fact-finding mission, where the issue of the risk posed by fire outbreaks was highlighted.