Golden Guvamatanga

President Mnangagwa’s call for the revitalization of Zimbabwe’s manufacturing sector must be viewed as a crucial component of the country’s broader economic development strategy, specifically its drive to promote locally produced goods.

This focus on domestic growth aligns with Zimbabwe’s ongoing efforts to revive key sectors like agriculture and mining, which have already seen notable success.

In the mining sector, progress has been impressive. According to the latest report from the Chamber of Mines on mining performance and projections for 2025, the sector is set to invest US$600 million in capital expenditure projects.

Mineral exports are expected to reach US$6 billion, up from US$5.5 billion this year.

The report also indicates a positive Mining Business Confidence Index (MBCI) of +5.4, suggesting optimism within the sector. Additionally, formal employment in mining is projected to rise to 58,700 jobs from the current 57,000, signalling the sector’s ongoing expansion.

Agriculture has also surpassed initial targets, reflecting Zimbabwe’s commitment to this critical sector.

Initially, the government set an $8.2 billion goal for the agricultural sector in 2021, but this has now been raised to $13.75 billion by 2025.

 This growth has been driven by strategic policies under the Agricultural Recovery and Growth Plan launched in 2020.

As a result, the country expects a record wheat harvest of 600,000 metric tons this year, up from 467,905 tons the previous year.

 In 2022, Zimbabwe achieved a historic wheat production milestone of 375,000 metric tons, a record unmatched since 1966.

These achievements mean Zimbabwe now has an abundance of raw materials to support a robust manufacturing sector, where capacity utilization currently stands at 53.2%.

For the manufacturing sector to take full advantage of this, the Industrial Development Corporation must develop innovative strategies to attract fresh capital and stimulate further growth.