Power cuts, cash shortage, cheap imports continue to affect business growth

Loc4Midlands correspondent
POWER cuts, cash shortage and too many imported goods continue to militate against the growth of local businesses, Unki Mines general manager, Mr Walter Nemasasi has said. Speaking at the official opening of the Midlands Agricultural Show in Gweru on Saturday, Mr Nemasasi who was the guest of honour at the event said load shedding was the major impediment to the growth of local industries.  His remarks come against a background of figures released by Confederation of Zimbabwe Industries (CZI) after its 2012 survey on the negative factors affecting business in Zimbabwe.

“Zimbabwe is producing an average of 1 200 megawatts a day against a demand of 2 100 megawatts resulting in load shedding,” said Mr Nemasasi, quoting from the CZI survey. According to the survey, cash flow shortage and lack of access to loans were the other challenges that were militating against the growth of the local industries.

He said there was a need for the Gvernment to review some policies to create a conducive business environment if the local industry was to tick again.
“The way forward to improve the business investment climate in Zimbabwe includes government-private sector engagement and partnership in order to enhance the formulation of mutually beneficial policies.

There is need to explore and focus on opportunities to support economic recovery,” he said.
Mr Nemasasi also called on the Government to come up with programmes that empowered the youth as well as adopt long-term policies aimed at resuscitating and supporting local industry. He commended the Midlands Show Society for continuously improving the event as witnessed by the increase of exhibitors each year.

Speaking at the same event, Defence Minister, Emmerson Mnangagwa who is the patron of the Midlands Show Society, commended the organisers of the show for their efforts which he said had resulted in the show attracting new exhibitors every year.

“You have continued to improve with each year and I must congratulate you for that ,” he said.

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