Mako Jerera
President Mnangagwa yesterday officially opened the 62nd edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo.
The President challenged local businesses to embrace innovation and manage risks while thriving to contribute more to the country’s economic growth.
President Mnangagwa said innovation was no longer a luxury for the future, stating that the experiences of the disruptive Covid-19 pandemic and the challenges linked to the changing global economic patterns and geopolitical complications, demand switch adaptive approaches.
“New business models, practices and processes should also result in increased production and productivity, growth and broader economic opportunities across all parts of the country for a balanced economy,
“Present realities have meant that industry re-looks at the impact of supply chain disruptions, matters related to financial health, risk management, customer engagement and behaviours, among other aspects,” said President Mnangagwa
He went on to add that Zimbabwe’s economy has grown by 7.4% and is projected to grow by an additional 5.5% this year which is above Sub-Saharan Africa growth projection of 3.8%.
“This strong economic growth is anchored on increased investor confidence, enhanced production and productivity in the manufacturing sector; infrastructure development, a buoyed mining sector and a recovering tourism and hospitality industry,” continued the President.
The theme for this year’s Trade Fair is: “Re-think, Re-imagine, Re-invent: Value Chains for Economic Development”.
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