Minister says some dead companies should now rest in peace

Industry and Commerce Minister Mike Bimha says while there is need to revive Zimbabwe’s industry, some companies should remain dead because they are no longer appropriate.

“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,” he was quoted by The Herald as saying.

“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.”

Zimbabwe’s industry has been under siege for almost two decades with several companies folding up or relocating and capacity utilisation at those that remained averaging 34 percent.

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