Staff Reporter

Analysts have levelled severe criticisms against the Confederation of Zimbabwe Industry (CZI), alleging that the organization’s actions undermine Government’s policies and contribute to economic instability.

The criticism comes in the wake of statements attributed to CZI’s Chief Executive Officer, Sekai Kuvarika, alleging that the Government relies excessively on police enforcement rather than implementing effective policies for long-term economic prosperity.

In an exclusive interview with this publication, analyst Charity Mhasva provided insight into CZI’s alleged involvement in supplying USD to the black market.

“The CZI has been fronting by supplying USD float to the black market. Kuvarika’s statement appears to be a defensive move to safeguard the organization’s interests,” Mhasva said

Mhasva further alleged that CZI had connections to illegal forex dealers, and that those who have been arrested should face the wrath of the law.

“CZI had ties to illegal forex dealers, fuelling the black-market exchange rate. Those that were involved and were arrested should face the full force of the law to deter similar behaviour in the future,” she asserted

Another analyst, Terrence Chapwanya, criticized CZI’s pricing policies, emphasizing their detrimental impact on Zimbabwe’s manufacturing sector.

“CZI’s preference for pricing goods in USD, rather than local currency, has significantly contributed to the industry’s decline. The organization prioritizes its interests over national economic stability, undermining government’s efforts to promote local currency usage and strengthen the economy,” he remarked

The allegations against CZI have sparked concerns among citizens, highlighting the need for transparency and accountability within the industrial sector. The consensus regards the importance of aligning industrial practices with Government initiatives which are aimed at fostering sustainable economic development.