Reconfiguration Reindustrialisation as a Panacea of Bulawayo’s Manufacturing Sector for Sustainable Economic Growth

Abstract

Industrialisation plays a key role in the social and economic development of countries worldwide, especially developing countries such as Zimbabwe. However, due to stiff competition from advanced economies with better organised policies and state of the art technologies, developing countries have seen a slow-down of industrialisation. Zimbabwe’s economic slow-down in the last 30 years has been characterised by a general decline of industrial economic activities. Massive de-industrialisation and relocation of companies to Harare have affected industrial performance in Bulawayo, the second largest city, once the industrial hub of the country. This economic slowdown, high unemployment and poverty levels put re-industrialisation of Bulawayo on the spotlight. Data for this research was collected through a validated questionnaire administered to respondents of 145 companies in Belmont, Donnington and Kelvin industrial areas. Concerns and viewpoints on strategies for reindustrialization and revival of the Bulawayo Metropolitan Province industrialisation were shared by respondents. Results and discussion show that lack of concessionary funding, development of provincial value chains, redressing infrastructural renewal, revival and recapitalisation of the National Railways of Zimbabwe, resuscitating capital equipment rebates, operationalising the devolution and decentralisation policies as well creating viable industrial parks and special economic zones, clearing of external debts and formalising the economy emerge are key tenets of reindustrialisation strategies. The realignment of the reindustrialisation strategies with government national industrialisation development policies is necessary for the realisation of benefits of the 4th Industrial Revolution and also to remain regionally and internationally competitive. Zimbabwe’s vision of an upper-middle society by 2030 should be anchored on retooling and reindustrialisation as a panacea for industrial development, employment creation and economic growth.