Harare City Council Cuts Shop Licence Fees
The City of Harare has announced a significant reduction in shop license fees. The move is intended to alleviate the financial burden on businesses and stimulate growth in a sector that contributes 60% of Zimbabwe’s GDP, reported Zimbabwe Economic Review.
The council said the new fee structure introduces flexibility, offering various payment options to suit different business needs.
Businesses can now pay license fees monthly, quarterly, biannually, or annually.
Additionally, the fees will now be categorized based on the size of the business: small businesses will pay US$400 annually, medium businesses will pay US$600 annually, and large businesses will pay US$800 annually.
The local authority explained that this reduction responds to widespread complaints from SMEs regarding high fees and the rigid non-transferability of licenses.
By lessening these costs, Harare aims to encourage the growth of SMEs, which is essential for economic stability, especially given the large informal economy resulting from company closures, currency instability, and inflation.
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