BULAWAYO - Zimbabwe's once giant shoe manufacturer, Bata Shoe Company, has received over US$700 000 from Bata International to recapitalize its crumbled operations which currently stand at below 20 per cent capacity.“Bata (International) gave us US$700 000 for our recapitalisation programme. However, that is not enough as we still need an additional US$1,3 million for us to produce to capacity,” said Bata Shoe Company managing director, Edwin Duthie, during a tour of the Company by Deputy Prime Minister, Arthur Mutambara last week.
“If we get this capital injection, Bata can regain its position as the leading shoe manufacturer in the region and in Africa as a whole.
Bata Company is one of the many entities in Zimbabwe whose operating capacity has been in reverse owing to the harsh economic climate.
At its peak, Bata employed close to 4 000 workers and could produce 60 000 pairs of shoes weekly.
“Production levels have sunk drastically to between 30 000 and 40 000 pairs of shoes per month, said Duthie.
According to Bata Company officials, the formation of the inclusive government has heightened hopes of a change of fortunes for the company.
Post published in: Economy