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Zimbabwe tackles funding challenges

Lack of long term and affordable funding has continued to affect the competitiveness and productivity of Zimbabwe’s clothing manufacturing sector.

There has been some momentum gained through various support measures which are currently being implement but the gains are likely to be offset by negative effects of the drought, commodity price downturn and the significant devaluation of currencies across the region. So not much growth is expected in 2016. Sustained shortage of long term finance continues to affect the industry’s recapitalisation efforts.

The clothing sector can improve only with significant investment into capital equipment and raw materials. There is a possibility of growth in the sector if more focus is put on local procurement from the government, private sector and consumers.

In 2015, the clothing industry which manufactures clothing from fabric had a mixed performance with some significant successes, but also some failures. It is estimated to be operating at about 35 per cent overall.

The textile industry is currently operating at about 15 per cent capacity. The textile industry faces the same challenges as the clothing sector but requires a greater amount of investment. But within textiles the infrastructure is mostly still in place from prior periods of better performance, so it relatively simple to get it working again.