Harare slashes business licence fees by 50 percent

Business licence fees in Harare just got slashed by up to 50 percent, and the banking sector saw the most jaw-dropping cut of all.

Small businesses get major relief

• Small shops under 50 square metres drop from US$400 to US$200 annually.
• Hairdresser fees got halved from US$460 to US$230.
• Non-food traders pay US$58 instead of US$115.
• The goal is to pull informal traders into the formal economy.

Banking fees took the biggest hit

• Bank licence fees plummeted from US$5,750 to just US$250.
• That is easily the most dramatic reduction across all sectors.
• Harare City Council wants a more business-friendly environment overall.
• Officials are calling the new tariff structure an economic catalyst.

Eligibility comes with conditions attached

• Businesses must settle their property taxes in full first.
• A valid tax-clearance certificate is required under the Income Tax Act.
• The cuts align with Zimbabwe's National Development Strategy 2 goals.
• Tourism and aviation sectors have seen similar fee reductions nationally.