Businesses urged to engage

HARARE - Business organisations have been urged to engage more with multilateral funding organisations to rejuvenate the country’s economy.

This was said by the minister of Industry, Mangaliso Ndlovu, during a two-day capital-raising conference which ended in Harare yesterday.

The Institute of Chartered Secretaries and Administrators in Zimbabwe (ICSAZ) organised the conference which attracted government officials, business people and various other stakeholders.

Ndlovu said Zimbabwe’s business organisations are in serious need of capital injection to re-tool their businesses, start new projects or for working capital purposes.

“For our large companies who are mostly in the manufacturing sector to be revived and grow sustainably, they need reasonably priced loans or capital. I hope that this conference will come up with solutions that can assist our companies to access affordable funding,” said Ndlovu.

Ndlovu said the level of funding needed by businesses is significant and requires the participation of both multilateral and local funding organisations, hence the need for businesses to utilise the rare opportunity availed to them by ICSAZ.

Speaking at the conference, ICSAZ president Letitia Gaga, urged business people to reveal their exact needs and present accurate details of their financial position and performance for them to be given appropriate solutions by funders.

She warned against misrepresentation in an attempt to gain more money from the funders, as this will derail the purpose of the initiative.

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.