29 April 2022
According to trade promotion body ZimTrade, Zimbabwe is eyeing growth of 40% for leather products exports by 2030, reports ILM.
This will reportedly be achieved thanks to the national leather sector strategy (2021-30), launched in April 2021.
The strategy involved applying sustainable production technology in the leather sector to promote both production and exports, which currently stand at US$30 million, ZimTrade said.
In the 2022 national budget, Finance and Economic Development Minister Mthuli Ncube set aside US$10 million for a revolving fund to support the sector in enhancing value and replacing equipment.
ZimTrade said: “In the drive to ensure that exports remain pivotal to the economy, the priority in the country’s national development agenda is value addition and beneficiation of products currently being exported as primary goods.
“Despite the decline in 2017, the exports remained above US$30 million while the imports have been on a downward trend from the peak of US$16.9 million recorded in 2018 to US$9.4 million in 2020.”