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Monarch Steel managing director, Mr Fritzpatrick Mawovera shows the deputy Minister for Industry and Commerce, Cde Chiratidzo Mabuwa, solar geysers manufactured by the company in Bulawayo recently — Picture by Eliah Saushoma

Oliver Kazunga, Senior Business Reporter
MONARCH Steel, a division of Treger Group of Companies has recorded 167 increase in export volumes since last year buoyed by Government’s measures to support local industries.

This has seen the company clinch lucrative deals to supply its products in the regional market having recorded a turnover of about $9 million.

This emerged during a recent tour of Bulawayo companies by Industry and Commerce Deputy Minister, Chiratidzo Mabuwa. The Deputy Minister, who had a briefing with the company’s board and management said she was impressed by the firm’s  performance.

“I was really impressed to note that Monarch Steel is one of the companies that Government has assisted through a number of policy initiatives to improve its operations. I have been informed that the company has improved its exports from last year by 167 percent and that it realised a turnover of $9 million,” she said.

“The company is also expanding its exports in the region. I have been informed that Monarch Steel secured a deal to supply 750 kitchen units per month to a South African company effective this September,” she said.

Monarch Steel managing director Mr Fritzpatrick Mawovera said: “Our volume of export currently, we are doing Zambia, Namibia, Botswana and a limited volumes of exports into the northern province of South Africa.

“Export volumes have increased but they have not yet reached the level that we want them to be. Last year there was a serious constraint on our exports primarily because of pricing through the five percent export incentives that has grown our exports by 167 percent”.

The Monarch Steel boss would not be drawn into giving the details of export volumes but said foreign currency shortage in the economy remained a biggest challenge as the situation affects procurement of key raw materials such as flat steel from South Africa. Monarch Steel exports a wide range of products such as door and window frames as well as other builder’s ware and kitchen units.

Mr Mawovera also lauded Statutory Instrument 64 of 2016, which was promulgated by the Government to protect local industry from unwarranted stiff competition by foreign companies.

In June last year, the Government promulgated SI 64/2016, which removes several goods from the Open General Import Licence.

The manufacturing concern has an estimated 400 tonnes of scrap metal at its Bulawayo factory premises. Mr Mawovera said they have entered into an arrangement with the Redcliff-based steel manufacturing firm, Steelmakers Zimbabwe for the conversion scrap metal to window section.

“We are supplying our scrap metal to Steelmakers Zimbabwe and they convert that scrap into window sections, which we use to produce window frames.
“We have briefed the Deputy Minister that we have already taken the initiative to tie up with Steelmakers to supply us with window sections,” he said.

Mr Mawovera said Steelmakers cannot take all the scrap metal at Monarch Steel and thus certain grades of loose scrap were being fed into local Chinese-owned foundries.

@okazunga