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THE retooling drive by companies in Bulawayo is a commendable initiative that aligns well with Zimbabwe’s Vision 2030, which aims to transform the country into an upper-middle-income economy. This retooling effort is particularly significant for Bulawayo, historically known as Zimbabwe’s industrial hub, which faced severe de-industrialisation over the past decades.

Bulawayo’s manufacturing sector is witnessing a remarkable revival, fuelled by significant capital investments from prominent companies like Treger Group, Edgars Stores’ Carousel Manufacturing, Arenel, Datlabs and Innscor Africa Limited. 

While the Ministry of Industry and Commerce’s allocation of ZWG509 million for implementation of the Zimbabwe Industrial Reconstruction and Growth Plan (2024-2025) will further enhance re-industrialisation programmes, the Confederation of Zimbabwe Industries (CZI) has proposed a US$69,5 million retooling loan for 17 manufacturing firms in the Matabeleland region. This funding is aimed at mechanising and expanding businesses with bankable brownfield projects, which are crucial for reviving the industrial sector.

The Second Republic under President Mnangagwa has implemented several ease-of-doing-business policies to attract investment and support industrial growth. The Government has also facilitated financing windows and policy support to help Bulawayo regain its status as an industrial hub.

As we reported yesterday, Treger Group has invested US$4,5 million in modernising its production plants. Through its various divisions, Treger Group has become the largest manufacturer of household, industrial and hardware appliances in Africa. The group is a leading producer of window frames, door frames, wheelbarrows, geysers, kitchen furniture, and painted and galvanised hardware in the building and allied industries.

Carousel Manufacturing, another significant player, has increased its production units to 2 500 daily, up from less than 200 units a few years ago, following a US$1 million capital investment. Upgrading the laundry machine with an estimated cost of US$260 000, and the cutting room solution at US$250 000 are some of the projects the company is working on.

President Mnangagwa’s commissioning of the new Baker’s Inn factory in the Belmont industrial area last year, where Innscor Group invested nearly US$30 million, also underscores the Government’s commitment to reviving Bulawayo’s industrial sector.

The retooling initiative has already shown positive results, with several companies increasing production and creating employment opportunities. This resurgence is a critical step towards building a robust domestic industrial base.

By revitalising the manufacturing sector, the retooling drive contributes to economic growth and diversification. A strong industrial base is essential for achieving the economic targets set out in Vision 2030.

The retooling of industries leads to job creation, which is vital for improving the livelihoods of Zimbabweans. Employment opportunities in the manufacturing sector can reduce poverty and enhance the standard of living.

Mechanisation and modernisation of industries bring technological advancements, which can increase productivity and efficiency. This technological progress is crucial for competing in the global market and achieving sustainable development.

A thriving industrial sector can attract foreign investment, further boosting economic growth. Investors are more likely to invest in a stable and growing industrial environment, which can lead to more significant economic benefits.

We are excited by the retooling drive by Bulawayo companies as it is a strategic initiative that supports Zimbabwe’s Vision 2030. By focusing on industrial revival, job creation, technological advancement, and attracting foreign investment, this initiative lays a strong foundation for achieving an upper-middle-income economy. Continued support from the Government and stakeholders will be essential to sustain this momentum and realise the vision for a prosperous Zimbabwe.