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Formal Retailers Alarmed By Business Closures, Seek Mnangagwa's Intervention

3 weeks agoMon, 27 Jan 2025 06:38:24 GMT
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Formal Retailers Alarmed By Business Closures, Seek Mnangagwa's Intervention

The Confederation of Zimbabwe Retailers (CZR) is alarmed by the closure of formal retail and wholesale businesses and has urged President Emmerson Mnangagwa to intervene and save the sector.

In a statement on Sunday, CZR president Denford Mutashu said the continued closure of formal retail and wholesale businesses is a direct consequence of the tough economic environment that has consistently failed to support formalized sector players who face stiff competition from informal businesses and vendors, most of whom have no tax obligations.

Mutashu expressed concern that authorities continue to downplay the crisis. He said:

The Confederation of Zimbabwe Retailers is deeply concerned about the continued closure of formal retail and wholesale businesses, a direct consequence of the prevailing turbulent economic environment that has consistently failed to support formalised sector players.

The recent closure of several outlets under the N. Richards Group, coupled with Spar Zimbabwe’s painful decision to shut down Queensdale Spar, Choppies Zimbabwe’s exit from the market, and Mahommed Mussa’s significant reduction of shop space by 60%, highlights the growing crisis.

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As the representative association for these and other brands, CZR is alarmed that while formal businesses face enormous challenges, the authorities continue to present a different picture of the operating environment.

Mutashu said the unregulated informal sector offers goods at much lower prices because it operates outside compliance with statutory obligations such as taxes, licensing fees, and labour laws.

He called for urgent intervention by President Mnangagwa to “rescue what remains of the formalized retail and wholesale sector.” Said Mutashu:

While CZR acknowledges the continued support from the Ministry of Industry and Commerce, it is clear that the root causes of these challenges are fiscal and monetary in nature. These require urgent and decisive action to ensure the survival of formal businesses.

CZR therefore appeals to the Presidium to prioritise interventions aimed at saving jobs and mitigating the ongoing wave of shop closures and retrenchments.

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27 Comments

Anonymous · 3 weeks ago
Danda heads don't yo see what is happening. Zanu is crashing the economy so that their oligarchs can then buy up these distressed businesses at rock bottom prices. That Pakistani already did it with choppies, ana. spar and OK are the next targets.
ikihwambe · 3 weeks ago
100percent l support the statement
**** · 3 weeks ago
zvichapera
nyonglo · 3 weeks ago
umbavha mashefu acho kkkk hanzi OK inosimuka kkkk .ktoparara uk.usazonyeperwa.VAna TM dzirikufaya wani
Gweja · 3 weeks ago
Vendors and Mushikashika for Wene.
huchi.com · 3 weeks ago
as l.always say who will zimra tax very soon they will retrench.formal businesses esp retail are overburdened with tax.vendors dnt pay tax,rent,salaries .it's the owner and his ****ie and wife.so l dnt see anything from gvt protecting those jobs.thousands will lose their jobs watch the space and zim will be the only country with no formal retail stores .we will buy expired fake goods from these vendors
vigilante · 3 weeks ago
the solution normalisation of the informal sector not demanding favours from hurumende
ZimSketch · 3 weeks ago
going stone age
Tman · 3 weeks ago
Tane a Zanufied Economy
1
Anonymous · 3 weeks ago
True, government wants to kill all formal industry. Then they will fill the gap with their own people.
apes · 3 weeks ago
2030 all these business will be gone If ed remains the president
laugh emoji1
Scara · 3 weeks ago
@ Sir African - that reflex what the other group of war veterans is saying. it's unfortunate that there is currency for the elite and lesser (zig zag) currency for ordinary citizens
1
Sir African · 3 weeks ago
@Scara.Government officials themselves and Mnangagwa do not like the ZigZag as can be seen from charging fuel , import duty taxes and services in USD only.The ZigZag was made for the small man .
1
Scara · 3 weeks ago
@ Sir African - true, zig zag policy is killing formal business as well. this is why i am saying let's dollarise kust like during the GNU era. for now just dollarise, then ten years or more from now, we can then bring back the local currency.
2
Sir African · 3 weeks ago
@ Scara.At the same time government must also deal with corruption.
1
Z · 3 weeks ago
KUFA KWEUMWE MURUME KUMUKA KWEUMWE. YAMUNOTI INFORMAL NHASI NDIYO YATOVA PRACTICALLY FORMAL!!! ITS CHEAP AND AFFORDABLE THE VERY BASIC EVERY CONSUMER LOOKS FOR. SUPERMARKETS USED TO BE VERY CHEAP BUT NOW MOST PEOPLE CANT AFFORD TO BUY FROM THEM. WITH THE COST OF LIVING RISING EVERYDAY PEOPLE ARE NATURALLY FORCED TO BUY FROM THESE TUCKSHOPS.
Sir African · 3 weeks ago
@Scara.The economy has dollarised but well established formal retailers are forced to accept the Gold backed ZigZag. I have been to Ok ,it is not looking good.The analyst who said we retreating 2008 could be correct.
1
trabablas · 3 weeks ago
nyika inovakwaa ne vene ...zig nation
Sir African · 3 weeks ago
Mr Mutashu how can you appeal to a clues man .He has never been on the ground himself to assess the damage he has caused because he is afraid of his own people.
laugh emoji1
Scara · 3 weeks ago
just dollarise the economy and economic fundsmentals will sort themselves out. also reduce taxes so that everyone keeps their heads snove the water.
1
-_- · 3 weeks ago
If you haven't noticed the Economy is pretty much dollarised. The challenge is that formal businesses can not compete with non formal businesses which do not have tax obligations and other expenses like rent.
Sir African · 3 weeks ago
Even if it is dollarised, the formal retail businesses are forces to accept the gold backed ZigZag.
1
The Curator · 3 weeks ago
People who always think that the only solution is to dollarize actually don't understand how economics work. It's not about the currency. But it's about policies, taxes, political environment, measures and interventions, and more.
Ngwenya · 3 weeks ago
Dollarizing might not be the solution so as Zigifying. If things continue like this, then another 2008 is coming, and when that happens they will be forced to dollarize

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