New leather strategy for Zimbabwe
18/06/2013
Comesa, the Common Market for Eastern and Southern Africa, has given its backing to the plan, called the Zimbabwe Leather Value Chain Strategy.
Sindiso Ngwenya, Comesa secretary-general, said at a launch event for the initiative in Bulawayo in mid-June that the Comesa region was losing millions of dollars in potential revenue by exporting raw material that could be made into leather.
“The overall market potential of Comesa leather can grow from an estimated value of raw material of $378 million a year to an estimated value of $875 million for fully finished leathers, which represents a value addition of roughly $500 million or about 150% of the value of raw materials,” he said. “And if all the raw hides and skins are transformed into finished goods like footwear, garments and other leathergoods, the industry would balloon to $2.5 billion from the present value of $450 million.”
There are 19 member states in the Comesa free trade area.
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