THE Confederation of Zimbabwe Industries (CZI) says the country’s low manufacturing capacity utilisation base means it stands to benefit more from the Africa Free Continental Trade Area (AfCTA) than other nations on the continent.
AfCFTA, the world’s largest free-trade area, began trading on January 1, 2021, creating a market of 1,2 billion people and the world’s eighth economic bloc with a combined gross domestic output of US$3 trillion, which is predicted to more than double by 2050.
According to the Zimbabwe Statistics Agency (ZimStats), the manufacturing sector’s capacity utilisation went down by 3,2 percent in the first quarter of 2023 to 45,6 percent from 48,8 percent recorded in the fourth quarter on the back of incessant power cuts, among other factors.
CZI’s chief economist, Cornelius Dube
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