Buy Zimbabwe in partnership with a number of companies has embarked on a consumer engagement drive to create demand for the locally manufactured goods meant to unlock the potential of the local industry.
BY TARISAI MANDIZHA
In 2014, Zimbabwe registered a trade deficit of $3,3 billion and expects a similar figure this year despite government raising levies on non-essential products to try to curb reliance on imports.
According to official statistics, overall imports growth is projected to be about 6% in 2015.
Imports for the six months to June 2015 stood at $3,1 billion compared to $3 billion recorded in the corresponding period in 2014.
Total exports for this period amounted to $1, 23 billion, compared to $1,22 billion recorded in the corresponding period in 2014.
Buy Zimbabwe economist Vandudzai Zirebwa said consumer engagement has come at a time when the country continues to reel under the pressure of a high import bill that has resulted in the loss of more than $18 billion over the last five years through cumulative current account deficits. She said this underlined the importance of buying local.
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“Buy Zimbabwe has launched this campaign after the realisation that many members of the society were not fully aware of the impact that a simple purchasing decision can have on job creation and ultimately economic growth. It was observed that for many consumers, purchasing patterns were influenced by perception. Many perceive foreign products to be of better quality and better value, which is not necessarily true,” Zirebwa said.
She said from the exercise which was being conducted the general complaint from consumers was that local products were being sold at a higher price.
Zirebwa said there was need for retailers to develop tailored supply chain capabilities that optimise cost and meet service commitment as consumers continue to exercise broader shopping options.
She added that many have indicated that while they have a strong desire to support local products and understand the importance of doing so they were forced by their financial circumstances to opt for cheaper foreign imports.
Zirebwa said it was made clear to participants that in order to help the industry to recover, it was important for consumers to look at the long-term benefits of bearing the steep prices for now.
