CZI congress set for October


Mr Charles Msipa

Business Reporter
THE Confederation of Zimbabwe Industries (CZI) annual congress will be held in Bulawayo in October.
The congress was initially set for 31 July to 2 August but was postponed after the Constitutional Court ruled that harmonised elections must be held by 31 July.CZI president Mr Charles Msipa said the congress would be held from 9 to 11 October.

“We had to move it because of the elections. We fixed the dates for the congress yesterday (Thursday), it will now be held from 9 to 11 October in Bulawayo,” he said.
He said the congress would focus on restoring economic growth.

“The congress will set the agenda for restoring economic growth which in the first six months of the year has shown signs of a slow down. As CZI we are very much committed to working with the new Government on economic revival.”

In setting the agenda for economic revival, focus would be on redefining the manufacturing industry to boost productivity and the depressed export sector competitiveness.

Figures from the Ministry of Finance show that between January and May this year, export earnings stood at $1,301 billion compared to $1,328 billion in 2012.
The decline in export earnings reflects an overall slow down in the real economy.

Meanwhile, officials from the Reserve Bank of Zimbabwe exchange control division and CZI recently met in Harare for a consultative meeting on overdue export remittances.

Mr Msipa said the RBZ has expressed concern over the outstanding export remittances by the local manufacturing sector.
He would not be drawn into revealing the total amount of overdue export remittance by the manufacturing sector.

“The reasons for not submitting the export remittances on time are distant from company to company. For example, some companies export through distribution agents who say they have not been able to remit payments into the firms’ accounts because of payment delays on the market.

“Exporting companies are required to remit their export proceeds within 90 days of sales,” he said.

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