Manufacturing sector poised for growth

Capacity utilisation levels for the manufacturing sector is expected to increase to more than 50% this year from 43,7% largely as a result of the operationalisation of the $100 million Zimbabwe Economic and Trade Revival Fund (Zetref), among other facilities.

Minister of Finance Tendai Biti, in his statement on the state of the economy and attendant challenges early this week said the availability of Zetref and signing of the Bilateral Investment Protection and Promotion Agreement (Bippa) with Botswana would enhance the availability of funding for the manufacturing sector.

Through the signing of the Bippa with Botswana, Zimbabwe hopes to unlock P500 million in credit lines.

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