Bulawayo earmarked for major industrial incentives

Sikhulekelani Moyo sikhu.moyo@chronicle.co.zw

BULAWAYO has been earmarked for major industrial incentives after Government approved the framework for Integrated Provincial Special Economic Zones (SEZs), with the city set to receive the designation, Bulawayo Provincial Affairs and Devolution Minister Judith Ncube has announced.

Speaking at the Bulawayo Exhibition and Hall of Fame Awards held recently, Minister Ncube, who was being represented by Mr Faison Antonio, said the SEZ status would bring substantial tax, financial and logistical incentives to drive industrial revival and attract both domestic and international investment.

Minister Ncube said the announcement comes as Bulawayo-based companies emerge as major beneficiaries of the Government’s Industrial Development Fund.

“I am pleased to note that Bulawayo-based companies have absorbed 33 percent of the approved funding aimed at revitalising our manufacturing sector,” she said.

“This demonstrates that our city is ready to reclaim its crown as Zimbabwe’s industrial powerhouse.”

She described SMEs as the backbone of the economy, noting that they contribute over 60 percent of Zimbabwe’s GDP and employ more than 70 percent of the national workforce.

“They are the job creators, the problem solvers and the community builders who form the backbone of our city’s economy,” said the Minister.

The Minister urged citizens, corporates and financial institutions to rally behind local businesses.

“Let us commit to: Buying Local, because every dollar spent on a locally produced good creates jobs and strengthens our economy. Supporting Local, because our entrepreneurs need markets, mentorship and partnership to grow,” said Minister Ncube.

“Growing Bulawayo, because together, we can restore our city to its rightful place as the industrial and commercial heart of Zimbabwe.”

She called on corporate leaders to open supply chains to SMEs and for banks to develop products tailored for small businesses.

“Mentor them, partner with them, let us grow together,” said Minister.

The Hall of Fame inductees, she added, were recognised not just for commercial success but for integrity, innovation, resilience and community commitment.

“Your stories will inspire the next generation of entrepreneurs who look to you as their role models.”

Youth Network Connect Director Philimon Nyirenda said the push for local procurement must be treated as economic policy, not sentiment.

“Localisation is not just a nice-to-have. Something that can make us feel good. It is a strategic imperative towards building a more resilient economy. Something we have now prioritised alongside building regional value chains with other countries in SADC and within the AfCFTA,” said Mr Nyirenda.

He argued that building local and regional value chains would make Zimbabwe less vulnerable to global supply chain disruptions.

“It is not a choice. It is a necessity.”

Mr Nyirenda said Bulawayo’s economy is driven by everyday businesses, from the spaza shop on the corner to local farmers, artisans and tech start-ups.

“When we buy local, we do far more than purchase a product. We support jobs, we strengthen families, we invest in the future of Bulawayo.”

He acknowledged that despite existing policy frameworks, the city has not achieved the localisation scale and impact that it requires.

“Together, let us champion the spirit of ‘Proudly Bulawayo’ and ensure that our local businesses not only survive, but thrive. Because when Bulawayo people buy local, Bulawayo grows stronger,” he said.

Source: Bulawayo earmarked for major industrial incentives – herald

The post Bulawayo earmarked for major industrial incentives appeared first on Zimbabwe Situation.