ADHESIVE Products Manufacturers (Pvt) Ltd, plans to grow its exports to 50% of total volumes in the next few years, driven by high demand of its products in foreign markets, an official has said.
In an interview with Southern Eye Business yesterday, Adhesive Products Manufacturers chief executive officer Nathan Nhira said due to Zimbabwe’s limited market for its products, his company would shift focus to the entire Southern African Development Community countries in a bid to boost revenue.
“We are working on the growth strategies and one of them is to venture into the foreign markets. We would be exporting to Mozambique, Malawi, Zambia, Botswana and Namibia.
Today (Tuesday) I would be visiting Zambia to tie loose ends with some officials there,” said Nhira.
“For us, (Adhesive Products Manufacturers (Pvt) Ltd) the business is doing well and we are operating at full capacity. We are expecting that 50% of our production should be going to the export market because Zimbabwe’s market is small.
“We are also looking at acquiring new machinery in the near future.”
Nhira said Bulawayo had potential, advising local firms to desist from closing shop.
“There is no need for companies to close shop in Bulawayo. This city has got lots of opportunities and would like to inform those who want to open business to come to Bulawayo and start operating now,” he said.
Nhira said Bulawayo is gasping for survival as witnessed by empty buildings which are now a common sight in the city’s industrial sites with firms continuing to close, downsize or relocate to the capital for better opportunities.
Workers have lost jobs, families are in distress, small enterprises are battling to survive.
Nhira urged prospective foreign investors to come and open shops in Bulawayo and Zimbabwe as a whole.
Adhesive Products Manufacturers (Pvt) Ltd was established in 2009. It supplies local and regional markets with industrial products such as general adhesive, light contact adhesive, wood glue, among other key products.
More than 100 companies in Bulawayo have closed shop or relocated to Harare due to severe shortage of working capital, erratic power supplies and high utility costs largely because of antiquated machinery and the high cost of labour.