AGG sets eyes on city economic woes

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THE AFFIRMATIVE ACTION GROUP (AAG) says it will appoint a 20-member economic council constituting of Bulawayo business executives

THE AFFIRMATIVE ACTION GROUP (AAG) says it will appoint a 20-member economic council constituting of Bulawayo business executives as it continues with its search for solutions to Bulawayo’s industrial stagnation and economic collapse.

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“I will be coming to Bulawayo on Tuesday next week to form work groups from the different sectors of the economy which will then constitute a 20-member economic council for the city,” AAG national chairman Keith Guzah, said.

He said while there was need for the manufacturing industry to be revived countrywide, Bulawayo was a special case and the economic council expected to be appointed next week would play a critical role in coming up with an implementation strategy in addressing the plethora of challenges besetting the city.

He added that the main thrust of the economic council would be come up with initiatives of attracting investment in the sectors of water and power generation.

Bulawayo is in a quandary as more companies continue to be liquidated while others are placed under judiciary management with limited chances of revival.

Close to 100 companies had shut down last year and the few surviving ones are saddled with huge debts and battling with low capacity utilisation largely due to antiquated machinery and lack of working capital against high labour costs.

But the AGG, which is strongly linked to Zanu PF, said it would not allow Bulawayo — the former industrial hub of the country — to die, hence the need to petition President Robert Mugabe on the myriad of challenges local companies are facing.

Meanwhile, AAG is headed for a clash with a local auctioneer tomorrow over the sale of properties owned by business in Bulawayo as banks seek to recover their monies.

Auctioneer Michael Nekati told Southern Eye Business this week that the properties would still go under the hammer as scheduled, adding that any interference would be contempt of court.

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