Harare — THE target by Government for local industry to attain a capacity utilisation of 60 percent by year - end, from the average 10 percent at the beginning of the year, looks achievable going by the growing sounds of machines at work in industry.

Some companies such as National Foods already look set to go beyond the 60 percent target while the increased availability of local products such as rice, mealie meal, milk etc is a manifestation of rising production levels.

Visits by the Minister of Industry Welshman Ncube and his team to such factories as Mazda Motor Industries and Olivine have revealed the desire to work while also bringing to the fore challenges that industry continues to face.

Although the situation on the ground looks promising, there is need to apply effective implementation and monitoring mechanisms to address concerns in the sector while also ensuring that the desired target is achieved.

Firms have been bemoaning the absence of lines of credit facilities for working capital, replacement of obsolete machinery and the acquisition of raw materials.

Banks have begun to lend to corporates albeit with stringent conditions and very short repayment periods of a maximum three months.

These are challenges which could be overcome if the support that has come Zimbabwe's way in terms of lines of credit from Afreximbank and the PTA Bank are anything to go by.

South Africa and Botswana have also made an undertaking to extend lines of credit to Zimbabwe.

This should naturally boost efforts to attain the envisaged 60 percent capacity utilisation.

However, the greatest challenge lies in the need for effective implementation of programmes by companies individually and the entire industry collectively.

Over the years, Zimbabwe's greatest undoing has been lack of seriousness when it comes to implementation and periodic follow-ups of projects and programmes which has often resulted in a poor showing at the end of the day.

Piecemeal measures and ad hoc efforts to address a situation do not usually achieve results as experience has shown.

It is in this regard that regular and consistent monitoring mechanisms such as monthly audits of performance should be introduced.

Of course we have the annual Confederation of Zimbabwe Industries manufacturing sector survey but this time around we need something that checks industry's pulse more regularly and consistently.

Something in the mould of the 100-day plan could do the trick but every sector could have more regular updates to ensure that challenges are taken care of timeously such that by the end of the year most subsectors within industry should have improved their production capacity.

Increasing production is one of the most sustainable ways Zimbabwe can begin to enjoy real economic growth.

Prediction of a 2 percent growth by the end of the year initially sounded unachievable but it can happen if the current momentum is maintained.

The Business Council of Zimbabwe and all its subsidiary bodies such as CZI, ZNCC and many others should be more proactive and come up with practical strategies to lend credence to the capacity utilisation target before it is dismissed as just another number.

A more intimate interaction between Government and industry should augur well for the economy.

DIASPORA

Over the past few weeks there has been growing interest and more commitment to capture the Diaspora with the likes of Prime Minister Tsvangirai, Minister of Indigenisation and Empowerment Saviour Kasukuwere and Deputy Prime Minister Arthur Mutambara, registering the importance this sector can play in rejuvenating the economy.

Last week Afreximbank said it would shortly launch a Diaspora Bond through which non-resident Zimbabwean could invest. The bank would act as the guarantor.

A number of initiatives are also lined up to entice the diasporans, many of whom have already expressed their willingness to participate in re-shaping the economy.

In God I trust!