Zimbabwe just changed its money rules to help local truck businesses. The Finance Act 2024 says only Zimbabwean citizens can transport companies inside the country. This big change affects all businesses that move goods on Zimbabwe roads. The government wants local people to benefit from this important part of the economy. They believe this helps create more jobs for citizens and builds up skills across the nation.
The new rule covers every kind of road transport service. This includes companies using regular trucks, trailers, dump trucks, fuel tankers, and other vehicles that carry things. People from other countries who already run these businesses must ask permission to keep working. They need to send papers to the Industry and Commerce office showing why they should stay. Foreign business owners have to prove they create many lasting jobs, teach useful skills to local workers, and help build lasting supply chains in Zimbabwe.
These outside companies must also follow rules from many government offices. They need approval from the bank system, tax office, social security group, environmental agency, training fund, investment authority, and town councils. The government made these changes because it wants Zimbabweans to have more control over how goods move around their country. It believes local business owners will keep more money inside Zimbabwe and help the national economy grow faster.
The truck and transport business matters because it moves everything people need. Food, fuel, mining products, and everyday items all travel on Zimbabwean roads. By making sure citizens run these services, the government hopes more young people find work. They also want foreign skills and knowledge to be transferred to local workers. This helps build stronger business networks connecting different parts of the economy.
Foreign companies that want to keep operating trucks must show they support Zimbabwe's goals. They need to explain how their business helps local people beyond just making money. This might mean training programs, creating new business opportunities, or investing in areas that need help. The government believes these changes will make the transport industry help everyday Zimbabweans more directly. They say this supports their bigger plan to transform the entire economy to benefit citizens first.
The new rule covers every kind of road transport service. This includes companies using regular trucks, trailers, dump trucks, fuel tankers, and other vehicles that carry things. People from other countries who already run these businesses must ask permission to keep working. They need to send papers to the Industry and Commerce office showing why they should stay. Foreign business owners have to prove they create many lasting jobs, teach useful skills to local workers, and help build lasting supply chains in Zimbabwe.
These outside companies must also follow rules from many government offices. They need approval from the bank system, tax office, social security group, environmental agency, training fund, investment authority, and town councils. The government made these changes because it wants Zimbabweans to have more control over how goods move around their country. It believes local business owners will keep more money inside Zimbabwe and help the national economy grow faster.
The truck and transport business matters because it moves everything people need. Food, fuel, mining products, and everyday items all travel on Zimbabwean roads. By making sure citizens run these services, the government hopes more young people find work. They also want foreign skills and knowledge to be transferred to local workers. This helps build stronger business networks connecting different parts of the economy.
Foreign companies that want to keep operating trucks must show they support Zimbabwe's goals. They need to explain how their business helps local people beyond just making money. This might mean training programs, creating new business opportunities, or investing in areas that need help. The government believes these changes will make the transport industry help everyday Zimbabweans more directly. They say this supports their bigger plan to transform the entire economy to benefit citizens first.
