Online Reporter
Ivan Zhakata
Herald Correspondent
The Confederation of Zimbabwe Retailers (CZR) has issued a strong appeal to the Government, pointing out that the formal retail sector is facing imminent collapse unless decisive action is taken to address a wide range of critical issues.
In a letter to Dr Mangaliso Ndlovu, the Minister of Industry and Commerce, the CZR stated that the formal retail sector is at a critical crossroads.
Dr Denford Mutashu, president of the CZR, emphasised that if the Government does not intervene urgently, many formal businesses will face insurmountable difficulties in sustaining operations.
Dr Mutashu highlighted the impact of high duties on fast-moving consumer goods (FMCG), which have driven up prices and suppressed consumer demand.
He also expressed concern over the intermediated money transfer tax (IMTT), which has placed an additional financial burden on businesses that are already struggling.
“We urge the Government to take immediate action and adopt these recommendations to create a more conducive environment for formal retailers,” Dr Mutashu said.
“Failure to act could lead to the further erosion of formal businesses, undermining the economy and reducing much-needed tax revenue. The formal retail sector is a vital part of Zimbabwe’s economic structure.
“With the right support, it can once again become a major contributor to employment, tax revenues, and overall economic stability.”
The CZR has continued to advocate for a thriving and sustainable retail environment – one that supports the livelihoods of Zimbabweans, creates jobs, and contributes to the country’s broader economic recovery.
