Zimbabwe’s manufacturing industry is sticking to its capacity utilisation growth estimate of 61 percent this year despite challenges threatening profitability.
After achieving a capacity utilisation level of 47 percent last year, the manufacturing sector is confident of an upward trend this year.
Confederation of Zimbabwe Industries (CZI) President, Mr Kurai Matsheza explains how the 61 percent growth target for this year is achievable.
“The target is really achievable we are doing all our surveys and they are pointing to good production levels, I know there are challenges but we are really in talks with the relevant people to chart the way forward,” he said.
An industrialist, Mr Rana Akbar states that despite challenges Zimbabwe’s manufacturing sector is ripe for expansion.
“As you can see for yourselves the environment is just good and we are looking forward to a rise in overall volumes in the near future,” he echoed.
Capacity utilisation is used as an indicator of the manufacturing sector’s productivity levels.
In a related development, companies in the manufacturing sector will meet government at a three day annual conference set for Harare this week to discuss current performances, challenges, incentives and the future.