Source: The Herald – Breaking news.
Dr Wushe 
Tapiwanashe Mangwiro
The Government has pledged to continue aiding the manufacturing sector through policies that are in line with the national vision and push for increased industry capacity utilisation.
Addressing delegates at the launch of the Confederation of Zimbabwe Industries (CZI) Manufacturing Sector Survey 2024 Report, Industry and Commerce Permanent Secretary Dr Thomas Utete Wushe, speaking on behalf of Minister Mangaliso Ndlovu, described the sector as a critical driver of job creation and a key pillar in the nation’s march towards Vision 2030.
Held under the theme, “Two sides of the same coin: Low-capacity utilisation and excess idle capacity,” the CZI report painted a mixed picture of modest sectoral contraction balanced by pockets of high performance, rising manufactured exports, and encouraging employment trends.
“Despite the challenges, new permanent jobs constituted about 14 percent of total employment in 2024,” Dr Wushe said.
“This is a testament to the sector’s ongoing ability to absorb labour, even as casualisation rates have risen to 30 percent.”
Newer firms, particularly those established within the last five years, were notable standouts, recording a 14 percent increase in output. Large firms also grew output by 8 percent, while the sector as a whole declined by just 0,5 percent, a performance Dr Wushe described as proof of industrial resilience.
This progress has been made against the backdrop of macroeconomic volatility and an evolving monetary landscape.
The launch of the new local currency, ZiG, in April 2024 brought temporary stabilisation, though inflation spiked to 37,2 percent by October before subsiding to 3,7 percent by December. Still, annual US dollar inflation averaged only 2,7 percent in 2024, down significantly from 8 percent in 2023.
“A big thumbs up to fiscal and monetary authorities for the relative stability we have been experiencing over the past months,” Dr Wushe said.
Export performance emerged as another bright spot. Manufactured exports surged from US$324,8 million in 2021 to US$448,7 million in 2023, before registering US$432 million in 2024, evidence of rising competitiveness in the face of global headwinds.
“Government intends to encourage firms to explore export markets, reducing dependence on local demand and better utilising their production capacity,” Dr Wushe stated.
However, he acknowledged that only 5 percent of total output was exported in 2024 and just 29 percent of manufacturers felt prepared to compete in the African Continental Free Trade Area (AfCFTA), underlining the need for targeted support.
To bridge this gap, Government is implementing the Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP), a transitional framework running through December 2025 that emphasises retooling, financing, infrastructure improvement, and value chain integration.
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