Zimbabwe’s manufacturing industry needs more than $4 billion in investment to return to full production, NewsDay reported, citing Finance Minister Tendai Biti.
Factories will need $1 billion next year for the country to reach the growth target of 7.8 percent to 9 percent, Harare- based newspaper cited Biti as saying on its website. The southern African nation’s economy will grow 9.3 percent this year, it said.
Industrial capacity should rise to about 60 percent next year, NewsDay reported. The textile, clothing, leather, pharmaceutical and dairy industries are among the worst- performing, it said.
To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net
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