Farai Mabeza, Senior Staff Writer 
THE Zimbabwe National Chamber of Commerce says it is focusing on building local business’ capacity to exploit opportunities under the recently launched African Continental Free Trade Area (AfCFTA).
The business-member organisation and the United Nations Development Programme (UNDP), together with the United Nations Economic Commission for Africa (UNECA) and other partners ― including ZimTrade and the Competition and Tariff Commission (CTC) — launched an AfCFTA training programme for Businesses in Zimbabwe training programme last month.
Zimbabwe National Chamber of Commerce CEO, Chris Mugaga
AfCFTA — the world’s largest free-trade area ― started trading on January 1, 2021, creating a market of 1,2 billion people and the eighth economic bloc in the world with a $3-trillion combined GDP, that is expected to more than double by 2050.
“…with the launch of trade on the AfCFTA… It is the chamber’s goal that members take advantage of the benefits arising from the AfCFTA. In this regard, capacity building initiatives such as the ZNCC/UNDP training sessions on ‘Unpacking the AfCFTA for Zimbabwean Business’ shall remain a priority,” ZNCC president Tinashe Manzungu said in the chamber’s annual report for 2020.
ZNNC chief executive, Chris Mugaga, added that the business lobby group would continue to advocate for a free market economy.
“The chamber of commerce continues advocating for a free market economy, where the government’s hand is limited and where markets are not perceived as failing, every time pressures simmering from prices or exchange rate are experienced,” Mugaga said.
Mugaga said ZNCC would this year launch its inaugural state of industry and commerce report.
“An exciting product is also on the offing. As the chamber of commerce, we are to launch the inaugural State of Industry and Commerce Survey Report.
“It shall be our flagship product for reference in policy advocacy. As the name implies, the survey shall be the premier source of up-to-date information on industry performance, the number of companies operating in the country, company closures and business confidence levels within the economy. The release of the first issue is scheduled for the last quarter of the year,” Mugaga said.
“The industry continues to face a myriad of challenges ranging from forex shortages, hard lockdowns, smuggled goods competing with locally manufactured products, and unfavourable legislation which negatively impact profitability.
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