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Zimbabwe needs $7bn in equipment, machinery investments

Staff writer ▼ | July 17, 2014
Confederation of Zimbabwe Industries national vice-president Henry Nemaire said a lot more needed to be done for industrial development to accelerate.
Zimbabwe industry
Zimbabwe industryConfederation of Zimbabwe Industries national vice-president Henry Nemaire said a lot more needed to be done for industrial development to accelerate.


"There is need for value addition in many facets of our industry. There is need to capacitate industries in as far as value addition is concerned," Mr. Nemaire said, adding that $7 billion would suffice for the country’s industry.

Mr. Nemaire said there was need for investment in equipment and new machinery. "Those industries which have invested in new machinery have become more competitive and are not only producing for domestic markets but also for the global market." He was citing Delta Corporation, Nestle and Schweppes as examples.

Zimbabwe once had a major and thriving timber producing sector, primarily located in Matabeleland North and Eastern Highlands, but the timber was exported without any substantial value-addition.

Experts argue that value-addition can bring about significant opportunities for growth in employment opportunities as well as more revenue inflows to the fiscus and significant downstream economic benefits for value-addition businesses.


 

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