Online Reporter
Ivan Zhakata
Herald Correspondent
THE Confederation of Zimbabwe Retailers (CZR) has applauded Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube for Strategic and timely interventions announced in the 2025 Mid-Term Fiscal Policy Statement.
CZR president Dr Denford Mutashu said the measures will help revive the struggling retail and wholesale sector.
The measures, Dr Mutashu said, will demonstrate the Government’s commitment to restoring growth in a sector that has seen its contribution to the Gross Domestic Product (GDP) decline from over 20 percent in previous years to 11.9 percent.
“The interventions announced by Minister Ncube are a strong signal of the Government’s determination to stabilise and grow the retail and wholesale industry,” he said.
“This sector has endured serious operational challenges that forced several players to downsize or shut down, but with the development of a dedicated Retail and Wholesale Sector Policy, we now have hope for an enabling environment that promotes investment, growth and competitiveness.”
Dr Mutashu praised macroeconomic gains such as exchange rate and price stability and welcomed support initiatives like the Reserve Bank of Zimbabwe’s Targeted Finance Facility.
“The streamlining of regulatory requirements, fees and charges is critical for reducing the cost of doing business,” he said.
“The recent Cabinet decision to review licences, permits and levies aligns perfectly with President Mnangagwa’s call to cut red tape and improve the ease of doing business.”
Dr Mutashu also lauded the liberalisation of the foreign exchange market under Statutory Instrument 34 of 2025, saying it had not triggered speculative behaviour in the formal sector.
However, he cautioned against isolated cases of businesses using artificially weak exchange rates to discourage local currency transactions and called such practices unethical and harmful to consumer trust.
On tax reforms, Dr Mutashu said ongoing consultations with business representative bodies are crucial to creating a fair and supportive tax regime that enhances competitiveness, growth and compliance.
He further threw CZR’s weight behind the Government’s multi-agency anti-smuggling taskforce, which is cracking down on illicit trade practices, currency manipulation, expired products and non-compliant operators.
“This initiative is essential to protecting consumers, safeguarding revenues and ensuring a level playing field for compliant businesses,” he said.
Dr Mutashu expressed optimism that the projected 6 percent GDP growth and a 30 percent rise in foreign currency inflows, which reached US$6 billion in the first five months of 2025, would boost consumer spending and liquidity, driving sales in the retail and wholesale industry.
“As CZR, we remain committed to working with the Government and all stakeholders to ensure this sector regains its rightful place as a major driver of economic growth and transformation,” he said.
