CZI to release manufacturing survey results

THE Confederation of Zimbabwe Industries (CZI), the country’s largest manufacturing sector lobby group, will release results for the 2022 annual manufacturing industry survey tomorrow.

CZI said in a statement that the annual survey provided a detailed insight into the performance of the manufacturing industry on account that the sector is at the heart of the industrialisation agenda.

Through the industrialisation agenda, the Second Republic led by President Mnangagwa believes the industrialisation agenda should deliver economic structural transformation to achieve an empowered upper middle income society by 2030.

“On Thursday the 6th of April, CZI is set to release the results of the 2022 CZI Annual Manufacturing Sector Survey.

“The survey provides a detailed look into the performance and state of the manufacturing sector between January and December 2022, in Zimbabwe and is nationally representative.

“The centrality of an enabling economic and regulatory environment to the success of the manufacturing sector cannot be overemphasised.

“The 2022 survey results are being launched on the backdrop of a year that was of mixed policy fortunes for the sector as well as the lagging effects of the Covid pandemic plus other significant global events,” said the industrial body.

In 2021, industrial capacity utilisation improved to 56,52 percent from 47 percent the previous year largely driven by increased investments in the industry.

CZI said the findings of the survey were corroborated or triangulated with views from some of the key sectors such as retail, packaging, and plastic pipe manufacturing that will be provided by their respective leaders at the launch.

The survey is not limited to CZI members and captures performance across the country.
“With a sample size of 409 manufacturing sector companies, 21 percent are CZI members, 5 percent of the surveyed companies are listed entities representing 80 percent of the manufacturing listed companies.

“With a growing sample size each year and broad variables, the report remains the most quoted survey on the performance of the manufacturing sector in Zimbabwe and a valuable piece of analysis providing both business and policy makers with valuable insights,” said the industrial lobby.

CZI chief executive officer Ms Sekai Kuvarika was quoted as saying in the 2022 manufacturing sector report, the market should expect an analysis that is relevant to manufacturers, their suppliers and their customers as well as other business sectors that are in one way or the other connected to
manufacturing.

She said in the upcoming CZI manufacturing sector survey results, the market should also expect insights for investors who are invested in the sector or looking to invest in it.

The survey also provides insights to inform policymakers on the key drivers of performance in the sector and possible policy intervention areas.

“Development partners will get insights on the performance and importance of the sector and how this may apply to their areas or intervention,” said Ms Kuvarika, adding that CZI had been progressively improving the survey methodology and its validity over the past two years.

In this light, the market should expect even more insights from the many variables that the survey covers.
CZI said advances and investment in the manufacturing sector will deliver value addition for mining and agriculture opportunities in Zimbabwe and this in turn powers the development of some service sectors as well.

It noted that in some countries the manufacturing sector has a strong multiplier effect with every job created in manufacturing translating to three or more other jobs in other sectors.

“It is an important sector in the realisation of the commercialisation of the various projects coming out of the innovation hubs driven by the Ministry of Higher and Tertiary Education across the country.”

The goals of the sector remain rooted among others, in increasing the complexity/sophistication of products produced in the country and these would have more value and take the economy up the value chain as well as create higher value jobs.

The manufacturing industry’s goals are also to promote industrial upgrading and excellence driven by investment in more modern equipment and technologies as well as making products that are globally competitive in all aspects and factors. -herald