Industry captains implore govt for retooling funding

Bulawayo (New Ziana) – Captains of industry in Matabeleland region have implored government to set aside a fund dedicated for retooling as most industrial equipment in the country was obsolete, and overdue for replacement.

Speaking at a business engagement here, Confederation of Zimbabwe Industries (CZI) Matebeleland Vice President Joseph Gunda said many local companies were still using out-dated equipment, which impacted production efficiency, and competitiveness.

“We have issues to do with inadequate capital for retooling to replace obsolete equipment. Some pockets of industry growth have been recorded with new companies coming on board (with modern equipment) through internal generated resources but that is not easy. We need a dedicated fund for retooling our equipment; in most of our industries (the equipment) is dating back to (the 19) 60s,”he said.

“My own company was established in 1968 by a Germany company and it`s still in existence with same machinery. We therefore need to run in tandem with developments in the world,” he said.

Gunda said availability of affordable lines of credit will be key in this respect.
He said inclusion of local businesses to participate in big national projects such as Manize was critical in growing domestic enterprises, and creation of employment.

He implored government to also ensure each and every big foreign-led project had local participation in the form of supplies and contracts as a way of developing domestic business.

“Foreign direct investment, we have been clamouring for it and its happening and we are happy with it. We, however, need to also point out that there is need to closely look at each and every investment and see how it is benefiting our country and economy,” Gunda said.

“We need legislation at government level that analyses each and every investment so that we are included at inception and not when the project is 90 percent complete,” he said.

“We had a delegation that went to Manhize initiated by Hon Judith Ncube. When we arrived there, we found that there is a big workshop …. where fabrication is happening and they had imported everything. We are asking ourselves, where Bulawayo in the matrix?” he asked.

“Where are fabrication companies in Bulawayo? We seem not to be there and I call upon all of us to fight for what is for us,” Gunda said.

New Ziana