The Zimbabwe government plans to crack down on foreign citizens running small businesses as part of its push for local currency use. These non-citizens have set up shops across downtown Harare, selling everything from food to household items. This goes against national laws that protect certain business areas for Zimbabweans only. The amended Indigenisation and Economic Empowerment Act specifically reserves retail, transport, and wholesale trade for citizens.
Industry and Commerce Minister Mangaliso Ndlovu announced he might deliver a full statement about upcoming enforcement actions. He mentioned they'll target retail sectors where many foreigners operate, often without legal status or as refugees. The problem extends beyond shops to the quarrying, brick-making, and sand-mining industries. Ndlovu explained they just need to finish the legal paperwork that should have happened years ago after the 2018 Finance Act changes.
Small business owners avoid using Zimbabwe's currency because it changes value rapidly, making American dollars their preferred option. Many shop operators trick their payment machines to reject local money transactions, which hurts most working people who earn their paychecks in Zimbabwe dollars. The Central Bank recently stated that every registered business must provide card payment options for customers to use either currency.
Ndlovu revealed government officials from several departments headed to India to learn about a system that successfully brings small businesses into the formal economy. The team includes representatives from the Finance Ministry, Central Bank, Industry Ministry, and security agencies. They hope this centralized payment approach will help solve current problems with currency acceptance and tax collection. Once they create new rules through a Statutory Instrument, officials expect to address these issues affecting the marketplace.
Industry and Commerce Minister Mangaliso Ndlovu announced he might deliver a full statement about upcoming enforcement actions. He mentioned they'll target retail sectors where many foreigners operate, often without legal status or as refugees. The problem extends beyond shops to the quarrying, brick-making, and sand-mining industries. Ndlovu explained they just need to finish the legal paperwork that should have happened years ago after the 2018 Finance Act changes.
Small business owners avoid using Zimbabwe's currency because it changes value rapidly, making American dollars their preferred option. Many shop operators trick their payment machines to reject local money transactions, which hurts most working people who earn their paychecks in Zimbabwe dollars. The Central Bank recently stated that every registered business must provide card payment options for customers to use either currency.
Ndlovu revealed government officials from several departments headed to India to learn about a system that successfully brings small businesses into the formal economy. The team includes representatives from the Finance Ministry, Central Bank, Industry Ministry, and security agencies. They hope this centralized payment approach will help solve current problems with currency acceptance and tax collection. Once they create new rules through a Statutory Instrument, officials expect to address these issues affecting the marketplace.
