Lo­cal pro­duc­tion, value ad­di­tion and ben­e­fi­ci­a­tion key to eco­nomic turn­around

Sunday News (Zimbabwe) - - Front Page -

AWARD-WIN­NING busi­ness ex­ec­u­tive and Chief Ex­ec­u­tive of United Re­finer­ies Lim­ited, Mr Bu­sisa Moyo has been one of the lead­ing lights in giv­ing fair and con­struc­tive com­ment on Zimbabwe’s eco­nomic is­sues on so­cial me­dia.

While some were busy point­ing fin­gers at ev­ery di­rec­tion in as far as the source of the eco­nomic chal­lenges fac­ing the coun­try is con­cerned, Mr Moyo has been seek­ing to point out what could be the so­lu­tion.

He has been un­equiv­o­cal in sug­gest­ing that the an­swer to the coun­try’s econ­omy is re­sus­ci­tat­ing the man­u­fac­tur­ing sec­tor as well as the agri­cul­tural sec­tor to pro­duce enough to meet lo­cal de­mand.

“Let’s get our ar­gu­ments on food prod­ucts cor­rectly. Our real prob­lem is not a short­age of for­eign cur­rency. It’s low pro­duc­tiv­ity in agri­cul­ture (for soya oil pro­duc­tion). Last year 60,000mt vs 400,000mt in­stalled ca­pac­ity (de­mand re­quire­ment is 240,000mt). For­eign cur­rency is needed when you haven’t grown but want to still eat and en­joy,” he said on mi­croblog­ging site Twit­ter last week.

In ad­di­tion, in an ad­vert where United Re­finer­ies Lim­ited clar­i­fied that it had not in­creased prices for cook­ing oil, the com­pany added: “Fur­ther­more, in a bid to re­duce the forex com­po­nent in our op­er­a­tions, we are invit­ing farm­ers to join our Soya Bean Out Grower Al­liance (SOBOA) pro­gramme to ex­pand the hec­tarage un­der soya for the com­ing agri­cul­tural sea­son sup­ported by var­i­ous banks and in­put providers.

We have ap­plied for 20 000 hectares of land near a vi­able wa­ter source (peren­nial river, dam or aquifer) for Joint Ven­ture Farm­ing from the Min­istry of Lands, Agri­cul­ture, Wa­ter and Ru­ral Set­tle­ments as an im­port sub­sti­tu­tion mea­sure.”

The low pro­duc­tion in the agri­cul­ture sec­tor in this in­stance was re­fer­ring to in­gre­di­ents needed to pro­duce cook­ing oil, thus United Re­finer­ies Lim­ited has em­barked on an am­bi­tious pro­gramme to make sure that the coun­try pro­duces enough and mea­sures up to other ar­eas that did ex­tremely well un­der the Com­mand Agri­cul­ture pro­gramme ini­ti­ated by the Govern­ment.

Mr Moyo is on record as say­ing four fi­nan­cial in­sti­tu­tions have com­mit­ted to part­ner­ing United Re­finer­ies Lim­ited to fund its soya bean out grow­ers’ project as it forges ahead to sat­isfy its de­mand for the edi­ble oil seed.

To Page 19

Mr Bu­sisa Moyo

Min­is­ter Nqo­bizitha Man­gal­iso Ndlovu

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