SRM Group pushes for sound marketing strategies

BUSINESS REPORTER

Zimbabwe companies should come up with sound marketing strategies to reap huge benefits from  the African Continental Free Trade Area (AfCFTA), marketing and creative strategy firm, SRM Group said this week.

The AfCFTA was operationalised in January last year.

SRM Group director, Sharon Runako Mupfumira, said Zimbabwe companies can benefit from export opportunities under the AfCFTA market  with more than 1.3bn people.

Mupfumira said SRM would help Zimbabwe companies to vigorously market themselves locally and across the continent for the country to benefit from the continental trade zone.

“As we prepare towards full capacity industrial utilisation, there is a need to start identifying markets for the products that will be produced in Zimbabwe,” Mupfumira told Business Times.

She added: “The AfCFTA will bring competition which we must withstand with sound marketing strategies.”

With the country’s focus on boosting the productive sector it is hoped there will be a need to identify new markets for the products that will be available as industrial capacity utilisation increases.”

AfCFTA aims to boost intra-African trade by providing a comprehensive and mutually beneficial trade agreement among  African countries.

The African Union says the landmark agreement has the potential of creating a continental free-trade zone with a combined GDP of US$$3.4 trillion.

If implemented fully, it can become the largest trade zone in the world.  It emphasizes the reduction of tariffs and non-tariff barriers, and the facilitation of free movement of people and labour, right of residence, right of establishment, and investment.

The Reserve Bank of Zimbabwe says the auction system has continued to assist productive sectors of the economy with US$1.7bn allotted to industries in Zimbabwe in 2021.

Mupfumira said even companies that may confine their focus locally should ensure their products are visible so they can fully maximise on their innovation.