By Rudo Saungweme

In line with Government`s goal of investing and retooling Zimbabwe industries, Wattle Company has invested US$500 000 in a new plant and machinery so as to increase timber production and foreign currency.

Wattle company bought a saw mill from Germany which has a capacity to produce 4 000 cubic metres of timber per month, an increase from the current level of 1 500 cubic metres, Harare Post has learnt.

Speaking during an interview with Harare Post, one sawmill contractor who refused to be named indicated that this development will enhance employment for locals as well as foreign currency revenue for the company and the country at large. The sawmill contractor also revealed that the company purchased a skidder machinery from South Africa.

“People in Mutasa district are pleased with this development. The company will now be able to employ more people. In 2015, the company dismissed a number of contractors. Wattle Company is also expecting to receive skidder machinery from South Africa which will speed up efficiency in conveyance of timber from plantations to the saw mill.

“The company`s export revenue will also be increased together with the much needed foreign currency in the country,” he said.

Wattle Company targets to increase its export revenue to US$9 million by the end of 2019 surpassing US $5 million recorded in 2018.The company expects to clear its tax arrears with Zimbabwe Revenue Authority (ZIMRA) estimated at US $3.5 million.