Zimbabwe needs companies to process raw materials into finished products rather than export them unprocessed. National Competitiveness Commission leader Phillip Phiri spoke about this at a recent banking conference. He said factories should turn minerals and farm crops into valuable goods before selling them abroad. The country loses money when it ships lithium ore instead of making batteries. Processing creates more jobs and brings higher profits to Zimbabwe.
Current mineral exports earn 6 billion dollars but could reach 35 billion with proper factories. Tobacco sales make 1 billion dollars each year but processing could increase earnings to 5 billion dollars. Pharmaceutical companies use tobacco plants to make insulin for diabetes patients around the world. Banks want to help small businesses access loans for processing equipment. Government officials support plans to build more factories across the nation.
Current mineral exports earn 6 billion dollars but could reach 35 billion with proper factories. Tobacco sales make 1 billion dollars each year but processing could increase earnings to 5 billion dollars. Pharmaceutical companies use tobacco plants to make insulin for diabetes patients around the world. Banks want to help small businesses access loans for processing equipment. Government officials support plans to build more factories across the nation.
