Mnangagwa Encourages Zimbabwe’s Industries to Leverage Global Trade for Growth

Zimbabwe’s economic strategy is shifting toward an expansive global vision, spearheaded by President Emmerson Mnangagwa, who has urged local manufacturers to capitalize on international trade opportunities.

At the ZimTrade-organized Annual Exporters Conference in Bulawayo, Mnangagwa stressed the importance of bold action by Zimbabwean industries. With global markets presenting a wealth of possibilities, the president emphasized the need for businesses to diversify their offerings.

Mnangagwa noted the significant rise in Zimbabwe’s exports, hitting US$4.56 billion between January and August of 2024. This growth, a 1.8% increase from the previous year, showcases the country’s steady trajectory toward economic empowerment.

Horticulture and value-added goods have been pivotal in driving these gains, with the export growth in these sectors standing at 5.2% and 2.3% respectively. This progress underscores the resilience and adaptability of Zimbabwe’s workforce, continually working to fortify the country’s economic foundation.

Mnangagwa encouraged businesses across all provinces to engage in export activities. His call is not just for established players, but also for new entrants, urging them to seize the potential of untapped markets beyond Zimbabwe’s borders.

Highlighting ZimTrade’s role in fostering this export growth, the president praised the organization’s efforts to cluster key economic sectors. This has opened doors to new markets, both traditional and non-traditional, allowing Zimbabwe to penetrate and establish a foothold in a competitive global arena.

Mnangagwa emphasized the necessity for businesses to adapt to rapidly evolving global standards. He stressed the urgency for local manufacturers to enhance their product offerings and align them with global technological advancements to stay relevant.

The push for research and development was a central theme in Mnangagwa’s address. He noted that the government has taken a proactive stance by establishing Innovation Hubs at all State universities. These hubs aim to support technological advancement, entrepreneurship, and innovation, laying a foundation for sustained economic growth.

The president’s vision extends beyond just production—he views infrastructure as the backbone of trade facilitation. His administration’s efforts to modernize Zimbabwe’s transport networks are key to ensuring efficient movement of goods, services, and people. Mnangagwa highlighted the notable improvements in road infrastructure over the past five years, furthering Zimbabwe’s capacity to compete on a global stage.

In his address, Mnangagwa reaffirmed his administration’s commitment to reducing non-tariff barriers that restrict Zimbabwean trade, particularly within regional blocs such as SADC and COMESA. These regions, according to the president, hold tremendous potential as engines of growth.

The Annual Exporters Conference, under the theme “Qala/Tanga/Start,” has become an essential platform for the business community and policymakers. This year’s event attracted buyers from eight markets, including six regional and two international markets, showing the growing interest in Zimbabwe’s export potential.

Mnangagwa’s emphasis on export-led growth is crucial for Zimbabwe’s long-term economic strategy. As the country seeks to achieve Vision 2030, the global marketplace presents a crucial avenue for expansion and innovation. By encouraging manufacturers to venture beyond local confines, the president aims to position Zimbabwe as a key player on the international trade stage.

However, success in global markets requires more than ambition. It demands a combination of adaptability, innovation, and strategic partnerships. Zimbabwe’s industries must heed Mnangagwa’s call and rise to the occasion, harnessing the opportunities that lie ahead to ensure the country’s economic future remains bright.

With a focused approach on export diversification, improved research, and strengthened infrastructure, Zimbabwe stands poised to redefine its role in global trade.

The Zim Bulletin