Home Business Just In: 2021 Budget To Support Buy Zimbabwe Campaigns.

Just In: 2021 Budget To Support Buy Zimbabwe Campaigns.

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The Minister of Finance and Economic Development Professor Mthuli Ncube revealed that the 2021 budget will strongly support programmes of the Buy Zimbabwe Campaign on raising awareness and the profile of homegrown goods and services.

Speaking during the ongoing 2021 National budget presentation, he said the budget will support raising awareness and the profile of homegrown goods and services, assisting local companies in improving the
quality of their products and services.

“The Buy Zimbabwe Campaign is designed to unlock our country’s full
potential and support economic growth and competitiveness of local
brands, jobs generation, and management of the import bill. It also
supports our strategy on the domestication of value chains.

“Therefore, the 2021 Budget will strongly support programmes of the Buy
Zimbabwe Campaign on raising awareness and the profile of homegrown goods and services, assisting local companies in improving the
quality of their products and services, and connecting local producers
to retailers, consumers and other relevant stakeholders that include
government and quasi-government institutions,” he said.

He added that government will resuscitate Ziscosteel through innovation
and harnessing inward opportunities, while working closely with local
investors.

“The revival of Ziscosteel is key to the economy through its potential
benefits in job creation and value chain impact in companies such
National Railways of Zimbabwe and Hwange Colliery.

“The resultant savings in foreign currency is in excess of US$1 billion through the importation of steel products.

“In 2021, the Government will resuscitate Ziscosteel through innovation
and harnessing inward opportunities, while working closely with local
investors. This will be done through courting new investors who will bring
new technology and new skills,” he said.

He added that Government is currently implementing a short-term roadmap of resuscitating the firm’s subsidiaries which include ZimChem, Lancashire Steel, and Buchwa Iron Mining Company (Bimco) among others.

“Meanwhile, current operations are targeted at raising capital through
the sale of waste and boulders, among other activities, while plans are
underway to resuscitate the mills to restart the manufacturing processes
which are expected to benefit Lancashire Steel.

“Accordingly, ZWL$2.3 billion has been allocated to the Ministry of Industry
and Commerce to spearhead the industrialisation thrust,” he added.

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