Ruziwa said the period saw 13 major companies in the region closing down as they faced operational challenges.
Some of the big companies which closed shop include Ziscosteel, Lancashire Steel, Zimcast, Zimgalss, David Whitehead and Mike Apple.
The CZI boss however, said despite the setbacks the province remained an attractive investment destination as witnessed by the revival of companies such Lesaffre (formerly Anchor Yeast), which was now operating above 70 percent of installed capacity.
“According to the 2016 statistics from the regional office of the Ministry of Industry and Commerce, the Midlands province faced 13 major and three temporary company closures since 2009,” Ruziwa said at a recent CZI business meeting in the Midlands capital.
“Consequently a total of 4,185 employees lost their jobs as a result of the company closures.”
Ruziwa commended companies such as Sino-Zimbabwe, Bata, BOC gases and Lesaffre that were performing well despite the economic challenges.
He said CZI was developing national and regional strategic plans to promote “the sustainable growth and development of the manufacturing industryâ€.
Meanwhile, speaking at the same meeting deputy industry minister Chiratidzo Mabuwa said government was working several initiatives to encourage financial institutions to provide long term funding to the private sector.
Post published in: Business