Government held talks with captains of industry and commerce in Harare yesterday over urgent solutions to macro-economic challenges that are threatening survival of businesses in Zimbabwe. The closed door meeting was prompted by industry’s concern over the operational climate in the country this yea which seem to threaten their ability to sustain profits, operate under a stable environment and maximise production, among others that is of greater importance.
Concerns from the business included foreign currency challenges that have seen stock levels being reduced to at least one month supply with a private sector legacy debt of US$150 million threatening survival of most firms.
Speaking at the meeting, Industry and Commerce Minister Mangaliso Ndlovu reaffirmed Government’s commitment to address the challenges that have been presented from the industrialists, hence the engagement.
“The meeting was sound and effective to the extent that we are anticipating a lot of interest from the business community among others,” Minister Ndlovu said after the closed door meeting.
Businesses are therefore pinning hopes on urgent solutions to problems affecting viability and supply chain of locally manufactured products in order to continue operations.
The meeting came shortly after government admitted the reality of non parity between the Bond notes and hard currency which evoked the need to engage stakeholders in charting a way forward on tackling immediate challenges.
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