Zimbabwe: Gono Set to Address Exporters
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 Published by the government of Zimbabwe |
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The Herald (Harare)
26 August 2008
Posted to the web 26 August 2008
Harare
Reserve Bank of Zimbabwe Governor Dr Gideon Gono will tomorrow address both existing and potential exporters at a conference to be held in the capital.
The central bank chief will speak on the issue of "Bringing down the barriers -- Gearing up for export success".
It is also hoped that the meeting will provide a platform through which exporters and the RBZ can discuss problems affecting exports face-to-face.
The ZimTrade-organised conference will bring policy makers from other institutions such as the Ministry of Industry and International Trade, Ministry of Agriculture, Eastern and Southern Africa Trade and Development Bank, Comesa and Sadc on the same platform as the export business fraternity.
The spotlight however is likely to be on the central bank boss.
ZimTrade chief executive said interaction between Dr Gono and exporters would ensure that policies put in place would meet business needs.
"The conference is a meeting of minds and actors in the private sector. Engagement with policy makers will make sure that we move in the same direction and that policies put in place meet business expectations," he said.
The conference comes at a time when Zimbabwean firms are making efforts to have products available on the international market in a bid to harness foreign currency.
Foreign currency has become vital for the operations of the majority of enterprises to source spares, raw materials and overcome capacity constraints.
It is expected that the governor will among other issues address foreign currency retention thresholds as well as indicate the central bank's position of export oriented initiatives.
In the half-year monetary policy, the governor said the central bank would continue to incentivise exporters "through various support programmes to enhance their viability".
Among these would be to ensure that generators of foreign currency operated within the confines of the formal interbank foreign exchange market. Also the retention threshold was revised from 65 percent to 55 percent with the liquidation period extended from 21 to 30 days.
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Other issues that will come under the spotlight at the conference include: Offshore funding for export success, Opportunities for Zimbabwe within Common Market for Eastern and Southern Africa and Addressing supply side constrains through toll manufacturing.
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