Zimpapers Logo

Minister Bimha

Business Reporter

INDUSTRY and Commerce Minister Mike Bimha says there is need for selective approach to rebuilding industry as some collapsed firms have to remain closed. Minister Bimha said while Zimbabwe needs to resuscitate industries, some of the companies should remain “dead” as they are no longer appropriate.The minister was presenting his keynote address at Chartered Institute of Secretaries’ annual conference held at the Troutbeck Resort in Nyanga over the weekend.

“We have seen a de-industrialisation trend over time from the time of ESAP (Economic Structural Adjustment Programme) but you and I need to walk on a path of re-industrialisation.

“Re-industrialisation will also mean resuscitation of industries and the invitation of new players to come and form new companies.

“You cannot resuscitate a company that is dead. Some of them need to remain dead, because they are no longer appropriate. So we have to be selective and see which ones we resuscitate and which ones we say rest in peace.”

He emphasised that Zimbabwe needs to grow its economy through re-industrialisation. He said companies that are not working need to be put back on track, but this required foreign and domestic investment.

Zimbabwe’s economy went through periods of sustained industrial decline over the decade to 2008, which was characterised by hyperinflation and economic meltdown.

Many companies collapsed or were shutdown during and after this period of economic decline and have struggled to reopen due to lack of affordable long term capital.

Companies that remain operational are battling to recapitalise and acquire modern technologies with average industrial capacity estimated at around 34 percent.

Minister Bimha also said creating a better future is everyone’s responsibility and not that of Government alone.

“Everybody wants today to be better than yesterday. That is what development is all about. Let’s be better than today.

“But the point is that it is not Government’s responsibility alone. The responsibility is with all of us in our own different ways.

“In our different institutions let’s make a contribution to creating a better future for this country,” the minister said.

He said chartered secretaries can contribute towards the creation of a better future for Zimbabwe through their knowledge, skills and the senior positions they hold in the different organisations they work for.

“Government is made up of representatives that are elected by individuals. It does not make them better people or more enlightened people than anybody else.

“There could be people who elect them who are brighter and even more informed than them,” the minister said.

“They have a mandate to rule but it does not mean that they have the prerogative of knowledge. Therefore, we need contributions from everybody. We need contributions from your institute to make Zimbabwe great and I am sure we can do it,” he added.

Minister Bimha added that Zimbabwe used to be the bread basket of Southern Africa and it could reclaim that status once again if everybody put their heads together.