Rudo Saungweme

In an effort to raise foreign currency and become self-sufficient, companies have engaged in aggressive export oriented strategies. This is in respect with their import requirement mandate.

The commitment by local companies to aggressive export oriented strategies has resulted in some companies experiencing increased revenue compared to the previous years in the same period.

Speaking in an interview with Harare Post today, Rainbow Tourism Group of companies’ employee who spoke on condition of anonymity has said that Rainbow Tourism Group of companies has experienced a 24 percent increase in export revenue for the period January to May 2019 compared to the same period in 2018.

Relatedly, a Dairiboard employee who spoke on condition of anonymity has said that their company is planning to implement robust strategies which have seen their foreign currency revenue surging to US$2.1 million in the first half of 2019.The employee has revealed that the US$2.1 million represents a 250 percent increase from US$0.6 million realized in the comparative period in 2018.

Mealie Brand which is a subsidiary of Zimplow has reported to this publication today that it has registered an increase in export volume of approximately 232 percent in the first half of 2019 compared to the same period in 2018.

In light of that, analysts have commended this initiative by companies indicating that this move by companies will leverage companies on foreign currency earnings which will drive down costs through the importation of stocks and product materials.

However, the analysts are advising the companies to ensure adequate domestic supply especially with regard to basic commodities before they export.