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Business gives MOU thumbs up

  1. Posted on Tuesday 22 July 2008 - 17:23
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    Zimbabwe’s manufacturing sector is operating at “far below” than twenty percen capacity while the importation of goods from neighboring countries was an “indictment” on the business community which can produce the same goods, business leaders said Tuesday.

    The business leaders who addressed journalists in Harare on the signing of the Memorandum of Understanding between Zimbabwe’s major political parties on Monday, said the importation of goods which local companies can produce if given support by the government was a black spot on the government.

    Confederation of Zimbabwe Industries (CZI) president Callisto Jokonya, flanked by the organisation’s past presidents Antony Mandiwanza and Pattison Sithole, said the signing of the MOU was a step in the right direction for business and called on the political leaders to urgently create a conducive environment for business.

    “Business hopes that the constructive spirit of selflessness and national harmony that was witnessed at the signing of will prevail and we wish the negotiations speedy finalization,’ said Jokonya.

    Turning to current production levels Mandiwanza said: “Manufacturing is operating at far below 20% capacity utilization. The importation of goods and services which Zimbabwean companies can produce if supported is an indictment on business and the political leaders.”

    He said business required foreign currency for capital development and reliable infrastructure.

    The business leaders urged for the urgent return to the international community and sound economic policies that can turn the economy around and called for the reinforcement of discipline in government.

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