Mthuli Ncube working on private equity fund

Finance and Economic Development Minister, Professor Mthuli Ncube says the government will step up efforts to stimulate productivity in the manufacturing sector by facilitating the introduction of private equity fund as well as trade financing facilities.

Treasury has expressed confidence in the ability of Zimbabwe to emerge as the factory for Africa through ongoing efforts aimed at improving the competitiveness and manufacturing capacity base.

As part of efforts to ensure export-led growth, treasury said it has prioritised the resuscitation of the domestic manufacturing sector.

Professor Ncube told captains of industry during the 2019 Confederation of Zimbabwe Industries (CZI) Congress Awards Cceremony that the government is seized with the implementation of policies to improve manufacturing sector competiveness.

"Resuscitation of the manufacturing sector is imperative as production and productivity is the cornerstone for the growth of any economy," he said.

The treasury boss assured industry captains that there will not be major policy pronouncements as the government is now seized with consolidating the gains recorded so far on the monetary and fiscal front.

Several companies were honoured for being innovative and for contributing to the realisation of export-led economic growth.

Paramount Garments received the 2019 CZI Exporter of Year award, whilst Turnall Holdings took the Energy Efficiency award, leaving seed-manufacturing firm, Seed-Co to scoop the Listed Company of the Year award.