COMMENT: Second Republic spearheads Bulawayo’s remarkable re-industrialisation

19 May, 2024 - 00:05 0 Views
COMMENT: Second Republic spearheads Bulawayo’s remarkable re-industrialisation President Mnangagwa

The Sunday News

THE Second Republic under the astute  leadership of President Mnangagwa has made significant strides in the re-industrialisation of Bulawayo, attracting investments totalling US$135 million and creating over 33 000 direct jobs, with additional indirect employment opportunities. 

This resurgence is a testament to the Government’s commitment to fostering economic growth and prosperity in the region.

The city is experiencing a renaissance, with investor interest surging and re-industrialisation efforts taking root. 

This was a city which, at its peak had large industries such as Merlin Textiles, Zimbabwe Engineering Company (Zeco), Hubert Davies, Radar Metal Industries, National Blankets, G and D Shoes, Tregers Group, Stewarts and Lloyds, Hunyani Holdings, Cold Storage Commission having their headquarters in the city, with the National Railways of Zimbabwe (NRZ) strategically headquartered in the city to provide courier services to the heavy duty industries.

According to the Confederation of Zimbabwe Industries (CZI) manufacturing sector survey, at the peak of the city’s de-industrialisation, industry reduced its capacity utilisation to below 30 percent as it continued to face a myriad of challenges including subdued foreign direct investments, limited long-term loans and huge energy deficit among other things.

The Government’s comprehensive reforms since the ushering in of the New Dispensation in 2017 have played a pivotal role in reclaiming Zimbabwe’s space in the global community. 

The re-industrialisation efforts in Bulawayo align with President Mnangagwa’s national vision 2030 agenda, aiming to turn Zimbabwe into an upper-middle-class income society.

The Government’s commitment to investing in innovation hubs and industrial parks further demonstrates its dedication to driving technological assimilation and economic development in the region.

The US$135 million investment in Bulawayo, creating over 33 000 direct jobs, signifies a turning point in the city’s economic landscape. 

The Government’s focus on comprehensive business reforms has bolstered the viability of Bulawayo, contributing significantly to employment creation and the realisation of an upper-middle-income economy by 2030. 

President Mnangagwa and Vice-President Kembo Mohadi are taken on a tour of Baker’s Inn Bulawayo plant by Innscor CEO Mr Ngoni Mazango before its commissioning on Friday

The recent commissioning of the US$30 million Baker’s Inn Bulawayo Factory stands as a testament to the increasing positive sentiment about Bulawayo and Zimbabwe at large.

The factory boasts a daily production capacity of approximately 160 000 loaves of bread, marking a significant milestone for the industry. Experts consider it a game-changer due to its cutting-edge machinery, showcasing genuine technological advancements.

Speaking at the official commissioning ceremony in the Belmont Industrial Area on Friday, President Mnangagwa commended Innscor for choosing Bulawayo as their investment destination.

“I want from the onset to commend Innscor Africa Limited under their Baker’s Inn flagship for choosing to make this important investment in Bulawayo. Your bold decision is in line with our devolution and decentralisation policy which seeks to realise equitable development, infrastructure development, modernisation and industrialisation across all our cities, towns and districts.

“As I was touring the factory, I told myself that these are the fruits of the Second Republic,” said the President.

President Mnangagwa stressed the importance of bolstering technological capabilities and embracing modern practices to enhance business competitiveness and facilitate growth. 

In line with this vision, he expressed his gratification at the significant investments flowing into the baking sub-sector through recapitalisation and retooling initiatives signifying a crucial shift away from outdated technologies.

These projects not only enhance the city’s commercial and educational offerings but also contribute to its overall attractiveness as a destination for investment, tourism and residence.

The Government’s commitment to fostering a vibrant and sustainable urban ecosystem positions Bulawayo as a hub of economic and social development in the region, signalling a positive trajectory for the city’s future.

 

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