Geza stay away takes the shine off from trade fair?

The curtain came down yesterday on the 2024 edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo, with mixed reactions as concerns were raised over the low turnout of both exhibitors and visitors.

The 2024 trade fair, the country's biggest annual exhibition, saw a slight decline in the number of exhibitors, dropping to 596 from the 624 that participated last year. The event, which began on Easter Monday, was held amidst a climate of political uncertainty following calls from expelled Zanu-PF central committee member Blessed Geza for an indefinite stay-away to force President Emmerson Mnangagwa to resign. Though the stay-away failed, there was underlying scepticism from Bulawayo residents about the stability of the situation.

Geza, a war veteran, has been vocal in his demand for Mnangagwa to step down, citing alleged corruption and misgovernance. While the political unrest didn't directly disrupt the trade fair, it undoubtedly contributed to a sense of unease around the event.

The first day of the exhibition was marred by a 15-minute power cut, which delayed Vice-President Constantino Chiwenga's speech during the Zimbabwe International Business Conference. Industry and Trade Minister Mangaliso Ndlovu had invited Chiwenga to address the conference, but the sudden blackout briefly interrupted proceedings. ZITF chairman Busisa Moyo later attributed the power failure to an "unexpected fault on the power line into the fairgrounds."

This mishap appeared to set the tone for a somewhat subdued event, with government departments and parastatals dominating the exhibition stands. Many of the side-events and conferences that typically run alongside the main exhibition saw low attendance, reflecting the subdued atmosphere.

The economic challenges facing the country were also evident, with Minister Ndlovu acknowledging that industry was grappling with serious issues, including inflation and currency instability.

Nqobile Mhlophe, a marketing officer at Global Funeral Supplies, attributed the low turnout on the first day to the Easter holiday, which she said may have kept many people from participating. "The Easter holiday could have affected many people that might have wanted to participate," Mhlophe said. "Some exhibitors even delayed setting their stands and spent the whole of Sunday night setting up."

Nyasha Maripakwenda, Wiremit Group's marketing manager, echoed these sentiments. "It was our first time exhibiting this year, but I could tell business was a bit slow. I think this is because of the Easter holiday on the first day of the ZITF," he said.

Zwane Enterprise CEO Bekithemba Mbambo also commented on the sluggish pace of business on the first day, attributing it to the timing of the trade fair. "The first day was very slow. I think next time the ZITF officials should avoid putting the exhibition days during holidays," Mbambo said. "This makes it difficult for people to participate because they will be caught between spending time with families and participating."

Despite the challenges, calls for rapid industrialisation and the beneficiation of exports dominated discussions at the trade fair. ZITF chairman Busisa Moyo emphasized the importance of industrialisation for sustainable economic growth. He pointed out that Zimbabwe's value-added exports are currently below 5% of the total exports, with most of the country's export income coming from raw materials.

"We have to have conversations about how we change that. Only then can we have sustainable employment, sustainable economic growth," Moyo said, stressing the need to shift from commodity-driven exports to processed goods that hold more value.

Confederation of Zimbabwe Industries (CZI) CEO Sekai Kuvarika also highlighted concerns about de-industrialisation, citing stagnant capacity utilization in the manufacturing sector. She pointed out that high production costs, obsolete technology, lack of funding, and inconsistent policies are contributing to Zimbabwe's declining industrial output.

"Our value-added exports are only under 5% of what is exported," Moyo continued. "So the need for industrialisation... is very appropriate."

Kuvarika added that Zimbabwe's performance in regional and global industrial rankings was not encouraging, stating that Zimbabwe was ranked number 8 out of 12 in the Southern African Development Community (SADC) and number 124 out of 143 globally.

Despite these setbacks, the trade fair has once again proven to be an important platform for discussions on economic recovery, industrialisation, and the future of Zimbabwe's manufacturing sector. However, the event's subdued atmosphere and low attendance underscored the pressing need for urgent action to tackle the country's economic challenges and stabilize the business environment.