Harare – They has been an increase of exhibitor’s in this year’s edition of the agricultural show from 70466 to 77693 but analysts have warned that this does not translate to an improvement in the country’s economic fortunes.
The agricultural show is an annual exhibition by the Zimbabwe Agricultural Society which aims to showcase the business companies in the country.
A number of companies from in and outside the country showcase their products at this agricultural show.
They has been an increase of 789 to 1394 to what are referred to as home industries, which are largely informal sector organizations which hardly remit anything to the government in terms of taxes.
The state owned media reported that business was very low with very few people visiting the stands or inquiring about the products being offered.
Economic journalist Malvern Mkudu highlighted that the increase in the number of exhibitors in the country did not mean Zimbabweans should celebrate.
“If we take the CZI register companies are closing and there is really nothing to celebrate about the current increase in the number of exhibitors. The economy is not doing well and to quantify the number of increase in exhibitors to economic growth is really not fair,” said Mkudu
Another economist Elvis Ziwenga said it was very difficult for the Zimbabwean economy to grow under the banner of small businesses as these remitted very little to the treasury.
“Most of the exhibitors are in the informal traders, they are smaller traders. You can not quantify the business in the informal trade that’s why the Mangudya’s are saying they is about 4 billion without really knowing how much we have. They is need to formalize the informal traders for the economy to revive,” he added.
He further highlighted that they was need to give people importer’s license so that they can get taxes.
The theme for this year’s show is “Climate resilience, the agricultural frontier”.