A local economist, Derick Muradzikwa, said as a result of political instability most industries in the province were operating 40 percent below capacity. He cited companies such as Tanganda, which he described as a high performing company. Its current staff complement is 3 749 down from 7 725 at its peak.
Other big companies such Cairns Holding and Mutare Board and Paper Mills, which used to employ thousands, have closed down.
“There is lack of political will on the part of Zanu (PF) to revive the economy and enhance the lives of suffering Zimbabweans.
Big companies that have the capacity to resuscitate the bleeding economy are lying idle due to lack of investment and capital,” he said.
“The inclusive government should work towards resuscitating closed companies and creating employment, instead of grabbing a few existing firms that are breathing life to the ailing economy,” said Muradzikwa.
“A political settlement in Zimbabwe will open the path to economic recovery since the country has a strong infrastructure base.
If political leaders commit themselves to a settlement that will respect property and human rights, Zimbabwe will soon regain its economic powerhouse status in the region.”Post published in: News