‘Take advantage of AfCFTA window’
INDUSTRY and Commerce Minister, Dr Sekai Nzenza, has called on local industry to produce high quality goods and services and position itself for the lucrative export gains under the African Continental Free Trade Agreement (AfCFTA).
Speaking on the first day of the 7th edition of the CEO Africa Roundtable Conference here yesterday, Minister Nzenza said Zimbabwean companies stand a big chance to increase exports – riding on the positive policies enacted by the Second Republic led by President Mnangagwa. She also stressed the importance of embracing technology to keep abreast with global trends.
“Let me emphasise the need to centre discussions on how businesses will adopt new technological environment and enhance efficiency and quality in view of stiffer market competition that is going to be brought by the African Continental Free Trade Agreement (AfCFTA) that is in force now,” said Dr Nzenza.
“You are well aware as the CEO Africa Roundtable that the AfCFTA is here to stay and is expected to boost intra-Africa trade as it aims to liberalise trade across the African Continent.
“It is also anticipated that it will deepen competitiveness at industry level, of which you are the leaders – through enhancing production, market access and a more efficient allocation of resources as industry moves up the value chains. We are being challenged to produce goods that can be sold across Africa,” she said.
Dr Nzenza said the Covid-19 pandemic had negatively affected economies across the world hence the change in the global business environment. This, she said, requires smart executives who are futuristic and ready to move the continent towards “creating the Africa we want.”
She said the pandemic has brought a rude awakening to businesses and reiterated the need to adapt to the new normal.
Dr Oswell Bimha
The conference is being held under the theme: “Charting the Recovery Curve, Building Momentum-Crashing Barriers, Creating Impact” and is being attended by business leaders and influencers from across the African continent.
Dr Nzenza said the hosting of the conference was testimony to the “Zimbabwe is open for business” and the “Ease of Doing Business” reforms that the country is implementing.
“The conference comes at a time when Covid-19 has affected industry and business.
Policies by the Second Republic are testimony to the Government’s commitment to improve the business operating environment in the country,” said Minister Nzenza.
She said there is a need for business executives to exploit the business environment that the country offers and expand networks of top-level business contacts, find new financial and business partners as well as become champions in the development of the continent’s private sector.
In line with the National Vision of creating an upper middle-income status by the year 2030, Dr Nzenza said the Government was implementing various initiatives anchored upon the National Development Strategy 1 (NDS1) whose objective is to transform the economy through enhanced productivity in an environment that is private sector driven.
She commended the private sector for partnering Government in its programmes and challenged participants to use the roundtable forum to forge new partnerships.
Dr Nzenza also said there was a need for collaborative workmanship towards achieving Vision 2030 and Agenda 2063. This has become imperative given that the 4th Industrial Revolution and Covid-19 pandemic have created a business-operating environment that demands innovation and digitalisation as customers are turning to online platform.
She encouraged industry executives to develop greater resilience and stay put in business.
CEO Africa Roundtable chair Dr Oswell Bimha bemoaned effects of Covid-19 on the industry saying many businesses had lost workers to the pandemic. He called for measures to address climate change as one of the modern challenges.
Mr Bimha said the Roundtable was working with like-minded institutions to ensure an improved business environment and nation’s preparedness in the event of future volatility.
“The Roundtable continues to make suggestions, incites and recommendations to promote dialogue within the industry and regulatory community. Economic stability should be backed by the sobriety of policies that guarantee macro-economic stability on the back of currency stability,” said Mr Bimha. The conference ends tomorrow. – The Chronicle
