Zimbabwe retailers want their government to cut business rules and costs under the country's next development plan. The Confederation of Zimbabwe Retailers asked officials to make regulatory reform a top priority for the National Development Strategy 2. This five-year plan aims to help Zimbabwe become an upper-middle-income nation before 2030. Business leaders say heavy regulations hurt companies and prevent economic growth. Reducing red tape could create more jobs and boost the economy.
President Mnangagwa supports making business easier for companies across Zimbabwe. Finance Minister Mthuli Ncube promised to review all regulatory costs within six months. The retail group believes complicated rules hurt local products and cause Zimbabwe to lose export markets. CZR president Denford Mutashu spoke at a recent meeting about the National Development Strategy roadmap. He said clear regulations without bureaucratic barriers help local investment and business growth.
The Confederation of Zimbabwe Industries reports that compliance costs take up 18 percent of company overhead expenses. Manufacturing firms must follow rules from at least nine different regulatory bodies beyond the central government. Companies hire three full-time workers just to handle regulatory paperwork and requirements. Business groups want the president to order a 70 percent cut in regulatory costs before June 2025. They also want new regulations frozen until officials can prove they help competitiveness.
The Zimbabwe Investment and Development Agency has already improved some processes for investors. Registration and licensing times dropped from 21 days to just seven days. The One Stop Investment Services Centre brings together 18 government departments for faster approvals.
President Mnangagwa supports making business easier for companies across Zimbabwe. Finance Minister Mthuli Ncube promised to review all regulatory costs within six months. The retail group believes complicated rules hurt local products and cause Zimbabwe to lose export markets. CZR president Denford Mutashu spoke at a recent meeting about the National Development Strategy roadmap. He said clear regulations without bureaucratic barriers help local investment and business growth.
The Confederation of Zimbabwe Industries reports that compliance costs take up 18 percent of company overhead expenses. Manufacturing firms must follow rules from at least nine different regulatory bodies beyond the central government. Companies hire three full-time workers just to handle regulatory paperwork and requirements. Business groups want the president to order a 70 percent cut in regulatory costs before June 2025. They also want new regulations frozen until officials can prove they help competitiveness.
The Zimbabwe Investment and Development Agency has already improved some processes for investors. Registration and licensing times dropped from 21 days to just seven days. The One Stop Investment Services Centre brings together 18 government departments for faster approvals.
