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By Ross Moyo
The Zimbabwean government has recognized Paramount Exports and Hunyani as the top contributors to the country’s Gross Domestic Product (GDP) growth in the manufacturing sector.
According to Permanent Secretary Ambassador Dr. Thomas Utete Wushe, the two companies have played a significant role in the sector’s 44.9% growth from US$15.54 billion (2009-2017) to US$22.51 billion (2018-2022).
Addressing members of the media, Permanent Secretary in the Ministry of Industry and Commerce , Ambassador Dr Utete Wushe said,
” Manufacturing companies like those which stood out as number one and best performers Paramount Garments (Exports), Hunyani Paper have been key to the manufacturing and commercial sector GDP growth which also included food, drink, tobacco, cotton and leather, timber, furniture, pharmaceuticals, paper and packaging.”
Paramount Exports, which includes Paramount Garments and Paramount Archer, and Hunyani Paper and Packaging, have been praised for their resilience and contribution to the sector’s growth.
Despite a devastating fire that caused US$30 million in losses, Paramount Exports has continued to operate and expand, creating an additional 3,000 jobs.
The Zimbabwe National Chamber of Commerce (ZNCC) recently recognized Paramount Exports and Hunyani as top exporters in the manufacturing sector, with Hunyani taking the top spot and Paramount Exports coming in second.
Dr. Utete Wushe noted that the manufacturing sector’s capacity utilization has increased to 53.2%, with Paramount Exports and Hunyani leading the way. The sector has also created approximately 272,000 jobs, with locally produced goods occupying 80% of shelf space in wholesalers and retailers.
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