CZI wants more Rands in circulation

CZI wants more Rands in circulation

By Michael Gwarisa CONFEDERATION of Zimbabwe Industries (CZI) President Busisa Moyo says industry has never called for the adoption of the Rand but rather pressed for more solutions to cushion industry from the prevailing cash crisis. Moyo’s sentiments come hot on the heels of President Robert Mugabe’s proclamation that Zimbabwe would never join the rand union as was being pushed by other sections of the economy. In an interview with The Business Connect, Moyo said there was a misunderstanding over industry’s position regards rand adoption. “I think sometimes we misunderstand…

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Capacity Utilization rebounds

Capacity Utilization rebounds

By Ndafadza Madanha THE country’s manufacturing capacity utilization has rebounded by 13 percentage points on the back of Statutory Instrument 64 (SI64) and boosted response rate within the small to medium enterprises (SMEs). According to the Confederation of Zimbabwe Industries (CZI) manufacturing sector survey, weighed capacity utilization has moved from 34 percent in 2015 to 47 percent. “The weighted capacity utilisation of 47.4 percent would imply an increase of 13.1 percentage points from last year’s weighted of 34.3 percent. The increase in capacity has been driven by two factors: Boosted…

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