Foreign currency from black market, a challenge to local industries

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Confederation of Zimbabwe Industries Matabeleland Chapter president, Mr Joseph Gunda, says buying foreign currency from the black market, is one of many challenges facing local industries. Mr Gunda was presenting a paper entitled protectionism and its impact on capacity utilisation, the case of zimbabwe, at the Institute of Chartered Accountants of Zimbabwe seminar in Bulawayo.

Meanwhile Bulawayo businessman Mr Dumisani Sibanda, says appointments of key personnel at parastatals on political grounds rather than on skills and proper qualifications, has largely contributed to their collapse.

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