Online Reporter
Business Reporter
Zimbabwean businesses now have greater pricing flexibility, thanks to a more stable local currency and the scrapping of exchange rate controls.
Through Statutory Instrument 34 of 2025, Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube has repealed the previous law that restricted businesses to the official exchange rate in pricing goods and services.
The repealed law, enacted in May 2004, prohibited businesses from pricing their products using exchange rates higher than the Reserve Bank of Zimbabwe’s average interbank foreign currency selling rate.
This new flexibility is anticipated to encourage more ethical business practices, as market competition will likely compel businesses that might otherwise overcharge to align their prices with prevailing market levels.
While the central bank had previously announced that businesses could utilise their exchange rates, this pronouncement lacked legal authority without a formal statutory instrument.
