Story by Stanley James, Business Editor
ECONOMIC experts contend Zimbabwe needs a massive commodity beneficiation strategy to guard against fluctuating international prices and reap more benefits on the export front.
Zimbabwe’s export growth drive is in motion with the country recording over 7,6 billion United States dollars from goods and services sold out of the country.
The trend, while raising optimism for economic growth, is being hampered by the huge import bill that has emerged as a key cause of concern.
Furthermore, dependency on unprocessed commodities for exports is believed to have resulted in the country losing growth opportunities on the export arena.
Economic experts contend that the export growth strategy can be sustained through focusing on value-added commodities.
Consumer Protection Commission Chairperson, Dr Mthokozisi Nkosi said, “The export growth trajectory is welcome, but it is the desire to boost value-added exports that will result in Zimbabwe reaping more benefits therefore the government and the private sector need to work together in identifying challenges and coming up with workable mechanisms.”
“The desire to boost exports is there as evidenced by the over 15% growth in exports. So, what is needed is that commitment aimed at further consolidating the gains and creating a conducive climate for firms to expand,” said ILO officer in charge for Zimbabwe and Namibia, Mr Adolphus Chimombe.
Exports are a strategic component for Zimbabwe’s foreign currency inflows.
