Corporates need to align strategies with evolving economic realities: IAPAZ

Ivan Zhakata

Herald Correspondent

Following Triangle Limited’s announcement of its plans of a phased retrenchment plan due to a decline in profits, the Indigenous Advisory Practitioners Association of Zimbabwe (IAPAZ) has expressed concern.

The organisation said the retrenchment exercise is a symptom of broader problems.

IAPAZ has called for urgent reforms, pointing to outdated laws like the Sugar Production Control Act of 1964, which once benefited major players but now hinder competition and innovation, especially for MSMEs.

The group urged corporates to address internal inefficiencies and align strategies with evolving economic realities.

To address the crisis, IAPAZ proposed workforce upskilling, fostering local and international partnerships for technology transfer and modernising restrictive policies to create a more inclusive industrial landscape.

They argued that opening up sugar milling to MSMEs could boost competition and innovation, which is crucial as Zimbabwe prepares for the African Continental Free Trade Area (AfCFTA).

“The wave of corporate failures is a stark opportunity for introspection and strategic realignment,” IAPAZ said in a statement.