Retailers hail Government interventions to boost the economy

Theseus Shambare

THE Confederation of Zimbabwe Retailers (CZR) has welcomed measures announced in the 2025 Mid‑Term Fiscal Policy Statement, describing them as timely interventions to revitalise the retail and wholesale sector.

In a statement yesterday, the CZR commended Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube for initiatives aimed at strengthening the sector’s role as a driver of national economic growth.

“The ongoing development of a Retail and Wholesale Sector Policy is critical for creating an enabling framework for investment, growth and competitiveness,” the statement read.

“This will help the sector regain its position as a major contributor to both GDP and employment creation.”

The retail and wholesale industry currently contributes about 11,9 percent to GDP — down from over 20 percent in previous years due to operational challenges.

CZR president Mr Denford Mutashu praised macroeconomic stability, including the prevailing exchange rate and price stability and welcomed targeted support measures such as the Reserve Bank’s Targeted Finance Facility.

“The recent Cabinet approval to review and rationalise licences, permit fees and levies across 12 key sectors aligns with His Excellency President Emmerson D. Mnangagwa’s directive to eliminate bureaucratic red tape and enhance the ease of doing business,” he said.

On foreign exchange reforms under Statutory Instrument 34 of 2025, Mr Mutashu noted: “Liberalisation has not led to speculative or inflationary pricing behaviour within the formal retail and wholesale sector,” he said.

“Retailers and wholesalers have generally demonstrated price discipline, reflecting growing alignment with the official exchange rate.”

However, retailers expressed concern over “isolated instances of businesses applying significantly depreciated exchange rates in a bid to discourage local currency transactions,” urging all players to uphold ethical practices.

The organisation also backed the Government’s multi‑agency anti‑smuggling taskforce chaired by the Ministry of Industry and Commerce.

“We fully support efforts to combat smuggling, currency manipulation, and the sale of expired and improperly labelled products,” the statement read.

With GDP growth projected at 6 percent this year, the CZR expressed optimism that increased consumer spending will “stimulate demand and ultimately boost retail and wholesale sales,” reaffirming its commitment to work with the Government to ensure sustained growth.