More jobs are coming: President

19 May, 2024 - 00:05 0 Views
More jobs are coming: President President Mnangagwa and Vice President Kembo Mohadi are taken on a tour of Bakers Inn’s Bulawayo plant by Innscor CEO Mr Ngoni Mazango before commissioning it on Friday. — Picture: Eliah Saushoma

The Sunday Mail

Sunday Mail Reporter

POLICIES that create a conducive environment for employment creation in the formal and informal sectors will continue to be vigorously implemented under the Second Republic to deliver more jobs to the people, President Mnangagwa has said.

Local and foreign investors, the President said, should take advantage of these opportunities to open new entities or grow existing ones.

At the commissioning of the new Baker’s Inn bread production plant in Bulawayo on Friday, President Mnangagwa exhorted businesses to take advantage of the various incentives offered by the Government to enhance production.

“In line with the ‘Zimbabwe is open for business’ philosophy, my Government is continuing to foster an environment which provides employment and self-employment opportunities for all categories of our people.

“Let me, therefore, reiterate that both domestic and foreign investors are welcome to do business in Zimbabwe.”

Innscor invested US$30 million in its Baker’s Inn unit in Bulawayo, resulting in the factory reaching a production capacity of about 200 000 loaves a day.

President Mnangagwa said the company had achieved this after making the most out of the Government’s policies.

“It is pleasing to note that Baker’s Inn managed to benefit from various incentives during the implementation of this project, which include value-added tax deferment and zero rating of duty on capital equipment.

“I urge other private sector players to take advantage of these and other incentives as they enhance their production and productivity capacities for win-win benefits for our economy and people.”

President Mnangagwa said recapitalisation, retooling and adoption of new technologies in the sector have not only increased production but also opened employment opportunities for women, youths and small businesses in the bakery industry.

He said this will enhance production and the availability of quality of goods at affordable prices.

President Mnangagwa added: “It is, therefore, pleasing that the baking sub-sector has witnessed significant investment inflows through recapitalisation and retooling, marking a transition from antiquated technologies.

“As a result of this new plant, I expect Baker’s Inn to lower their production costs, enhance product viability and deliver quality goods at reasonable prices.

“Meanwhile, the increased production of 200 000 loaves of bread per day should see the creation of employment opportunities within the company, especially for women and the youth. Backward and forward linkages in aspects such as packaging and distribution must also be enhanced.

“The innovation of the Baker’s Inn container project is applauded as it will not only grow the company’s sales footprint but also provide beneficiaries with entrepreneurship training under the mini-wholesale bread business project. Well done.”

He said the company’s decision to invest in the Bulawayo plant dovetails with the Government’s devolution and decentralisation policy, which seeks to ensure no one and no place is left behind.

Baker’s Inn’s parent company Innscor was also applauded for employing strategies that will boost the presence of locally made goods in local retail outlets.

“Your bold decision is in line with our devolution and decentralisation policy, which seeks to realise equitable development, infrastructure development, modernisation and industrialisation across all our cities, towns and districts.

“The expansion project also dovetails with our Local Content Policy, as well as the ‘Made in Zimbabwe’ and ‘Buy Zimbabwe’ strategies, which have seen the shelf occupancy of local products rising to over 80 percent.”

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