BULAWAYO mayor Martin Moyo has appealed to investors to pump money into the city as council intensifies efforts to economically revive the second capital, saying Bulawayo is a sleeping giant that needs to wake up. Deputy Editor
“Bulawayo is in the doldrums. It is a sleeping giant that needs to wake up,” he said. More than 100 firms are estimated to have closed shop in the past two years, throwing more than 20 000 workers into the streets.
“Our industries collapsed for lack of support from financial services sector. The giants of yesteryear O’Connollys, F Issels, More Wear Industries, the list is endless, collapsed for lack of financial support. They probably needed capital to retool, to refurbish or source essential inputs,” the mayor said.
Moyo said the focus of the city fathers and people of Bulawayo is reinvestment.
“In order for our city and its people to flourish, we know that commitment to prosperity is key. As Zimbabweans, we must each play our part to deliver personal, community and national growth. Be it you are a sole trader, a private sector employee, a civil servant, n small business or any other member of the public.”
Moyo’s appeal appears to be bearing fruit with the recent opening of Bon Marché in Bulawayo as well as last week’s opening of a branch of Steward Bank, a development the mayor said augured well for the city’s economic revival agenda.
Steward Bank chief executive officer Kwanele Ngwenya has pledged the financial institution would play a significant role in assisting the Bulawayo City Council revived collapsed economy, particularly closed industries.
“We have some thoughts and ideas on how we can improve our city. This is our home. We will be engaging the mayor in the next few weeks with ideas that will hopefully make a positive difference,” he said.
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City business pressure groups have indicated they are pinning the revival of Bulawayo on the government’s promise to declare the city a special economic zone.
