CZI manufacturing survey delayed

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THE Confederation of Zimbabwe Industries (CZI) manufacturing survey, initially due for release this month, has been delayed and is now tentatively scheduled for next month.

Own Correspondent

The CZI manufacturing survey has since its inception a few years ago, proved to be an informative publication for captains of industry, business and the government as it detailed performance of the sector as well as chronicling issues bedevilling it.

The respected survey helps policy makers to gauge the performance of the manufacturing sector still smarting from effects of the decade-long economic meltdown.

CZI officials had indicated early this year that it would release the survey by the beginning of this month.

In an interview with Southern Eye Business CZI president Charles Msipa confirmed it was no longer possible to release the survey this month, saying they had to include a huge number of companies in carrying out the study hence the delay in the submission of the survey.

“The survey will be tabled to the captains of industry in the first week of October. We are currently finalising tabulating data and we will be done possibly by end of the month,” Msipa said.

According to the industrial body this year, more than 60 companies participated in the survey which is used as a measurement of productive capacity and seeks to help the government with information on challenges affecting industries in Zimbabwe.

Msipa said last week captains of industry met the new Industry and Commerce minister Mike Bimha and agreed on a policy implementation matrix in the revival of industry.

Industry in Bulawayo is on its knees with official statistics showing that last year alone, 84 companies closed shop while 64 are reported to be on the verge of collapse.

According to CZI manufacturing sector survey, industry reduced its capacity utilisation to 44% from 57% as of June this year, as it continues to face a myriad of challenges including subdued foreign direct investments, limited long-term loans and huge energy deficit, among other things.

CZI will next month hold its annual congress in Bulawayo aimed at addressing industry challenges.