Cliff Davies, a business consultant and economist, said this while addressing a Business Forum meeting held at a local venue. He said that the province had abundant natural resources such as diamonds to turn around the country’s economy.
The meeting was attended by local businessmen and captains of industry with a view to coming up with solutions to the current economic woes. Davies said there was need for the government to provide cheap loans to revive local manufacturing industries which he said were operating 40 percent below capacity due to lack of funds.
“We have a lot natural resources which we can exploit and sell and raise capital to boost our business. Manicaland is endowed with natural resources such as timber, minerals, tea to mention a few, but there is need for collective effort by all stakeholders to pool resources,” said Davies.
Davies cited companies such as Tanganda which he described as a high performing company but is operating with a staff compliment of 3 749, 48 percent of its peak. He said other companies such Cairns Holding and Mutare Board and Paper Mills, which used to recruit thousands, have since closed shop.
“The inclusive government should work towards resuscitating closed companies and create employment for the local youths,” Davies said. “Broad based economic empowerment in Zimbabwe would open the path to economic recovery since the country has a strong infrastructure base. If all stakeholders committed themselves to economic development, Zimbabwe would soon regain its economic powerhouse status in the region”.
Post published in: Business