Analysts welcome CZI move

Published: 31 October 2013

Analysts have welcomed the move by the Confederation of Zimbabwe Industries to urge all multinational companies in the country to procure locally produced raw materials to promote local industries.

Countries like Malaysia and South Africa have a policy that urges all companies to procure locally produced products before resorting to imports.

In an interview, economic analyst Mr. Witness Chinyama said local procurement campaigns have to be taken seriously because they form the basis of indigenisation and economic empowerment.

"Multinational companies should start rolling out initiatives to procure locally available goods from the local industry so as to complement the tenets of the Buy Zimbabwe campaign.

"It is actually pointless to see companies importing chickens from Brazil when actually we have different local chicken producers who are finding it hard to get the markets for their chickens," he said.

He said the issue of quality and standards had many companies resort to importation of raw materials and other materials but it is the duty of those companies to set standards.

"Large companies should specify the standards that they want as well as quality.

"Through local procurement employment creation would be enhanced as well as small and medium enterprises empowerment," he said.

"From an economic point of view Zimbabwe has the lowest unemployment rate because everyone is doing something everyday, but the challenge of markets for their products remains. Local procurement should be the way to go," Mr Chinyama said.

He added that before importing the multinational companies should start by looking locally before resorting to importation.
- herald

Tags: CZI,