Published On: Thu, Jan 12th, 2017

CZI to retrospect on economy

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By Daniel Chigundu

THE Confederation of Zimbabwe Industries (CZI) says it is going to use its annual Economic Outlook Symposium to reflect on the challenges faced by local industries.

Companies in Zimbabwe are currently facing a multiplicity of challenges that have seen most of them scaling down operation or even closing shop.

Challenges faced range from lack of adequate foreign currency to buy raw materials, high production costs, unreliable but expensive utilities, unfair competition from cheap imports and low spending by consumers.

Addressing the media CZI President Busisa Moyo said the symposium scheduled for 26 January, is seeking to examine challenges bedeviling industries and also finding ways of addressing them.

“On the 26th of January this year, as we have done in the last four years, we have held an Economic Outlook Symposium and we will be doing so again this year.

“This is a half-day meeting and it will be both for to introspect or to retrospect as well as to prognosticate what the year has and we are going to be looking at the challenges faced by industry and how these can be addressed.

“It’s not an occasion for us to come up with ways and means to tell government what to do, but to look for areas of collaboration, areas that this year we can work on to make a difference for industry and for manufacturing companies in particular.

“So we are going to be examining these challenges collectively and we have chosen expects to come and make presentations in various areas and these are then interrogated by the delegates or by the audience,” he said.

The CZI president added that the audience will consist of people drawn from various sectors of the economy representing industry, business people, academia, government and other interested parties.

Moyo said there is also going to be a cross section of ministers attending the symposium as most of the challenges being faced are common whether its tourism or manufacturing.

“There are a lot of over-arching economic problems that we need to tackle collectively and so we are going to have a cross section of presence in the audience.

“The way forward then which rounds up the whole event normally looks at resolutions which are then forwarded to relevant government ministries for action, for execution and also for action on our part because I think there are things we would require government to do but there are also things we must do as private sector,” Moyo said.

CZI said the Economic Outlook Symposium will be held under the theme “interim and long-term strategies to address Zimbabwe’s economic challenges” and this is going to be presented by Professor Tony Hawkins who is also the founder of UZ School of business and is also SADC advisor.

Professor Hawkins is expected to give an over-arching overview of the symposium topic focusing on some of the short term and long term strategies.

Moyo said there are immediate problems that Zimbabwe will need to tackle as a country but there is also long term planning that is needed because people have been around long time talking the same thing and that maybe there is need for a road map that will not only solve the crisis but also looking forward in the long-term.