Speaking to hundreds of delegates at the official launch of Allied Timbers Zimbabwe Boards and Doors Production Plant in Msasa today, President Mnangagwa said that Allied Timbers was doing a good thing in being self-sufficient in its operations, adding that what the company did was consistent with Government's vision for value addition.
“I applaud Allied Timbers for being self-sufficient in the establishment of the new plant with no additional funding from even the Ministry of Finance and Economic Development. The launch is very important, more so against Zimbabwe's economic downturn.
“I call on other state enterprises to emulate this example set by Allied Timbers. Business models must be internally developed. Government will continue to support turnaround strategies and will ensure security of investments and sustainable jobs,” he said.
He went on to say that, “At this rate, Allied Timbers will be back on the recovery path and should uphold good corporate governance, observe best management practices and avoid corruption. This will definitely allow the company to grow.”
President Mnangagwa commended Allied Timbers for working hard to revive the firm and procure a plant using company resources without borrowing. He said what Allied Timbers did is consistent with Government's vision for value addition.
President Mnangagwa implored the management to observe good governance. He went on to reproach Allied Timbers for using only 27 percent of their land in the plantations challenging the firm to fully utilize that land or else it would be repossessed. He said the growth of Allied Timbers would give impetus for diversification and the government will support this noble cause.
Speaking at the same occasion, Minister of Environment, Tourism and Hospitality Industry, Prisca Mupfumira highlighted that Allied Timbers has a critical role to play in contributing to the achievement of the National Vision, that is, to achieve an upper middle income status by the year 2030. She also said that the mandate of Allied Timbers was to supply the nation with timber in a sustainable way.
President Mnangagwa was accompanied by Minister of Industry and Commerce, Mangaliso Ndlovu, Minister of State Security, Owen Ncube and Harare Provincial Affairs Minister, Oliver Chidawu.
Allied Timbers is a State owned entity set for partial privatization. It is engaged in planting, harvesting, processing, marketing and selling timber products to construction and furniture industries as well as end users in Zimbabwe and abroad.
