The formal retail and wholesale sector is in deep distress as the country’s economic instability continues to widen the gulf between regulated businesses and a thriving informal market, a parliamentary report has revealed. According to findings by the Portfolio Committee on Industry and Commerce chaired by
Business is bustling yet again in Harare’s Central Business District (CBD) following President Emmerson Mnangagwa’s relaxation of a hard lockdown yesterday with most non-essential service providers opening shops for the first time in 44 days. The country went into a 30-day hard lockdown on January 5
The Confederation of Zimbabwe Retailers (CZR) has called on the corporate world to rally behind the Government’s fight against the COVID-19 pandemic. This follows Government's invitation to the business community to outspread their hand towards procurement of COVID-19 vaccines projected to require US$100 million. In a statement,
Retail giant-OK Zimbabwe Limited is confident of a healthy cashflow in fourth quarter amid the possibility of a lockdown extension to shorten business hours, the Group said in its latest trading update for the nine months to December 2020, released this morning. With the Covid-19 pandemic
Government decision to extend business operating period from 6.30 am to 6.30 pm under the Covid-19 lockdown regulations have brought great relief to the retail sector which is still struggling to recover lost business since the imposition of tighter measures in March. Prior to the announcement
The Confederation of Zimbabwe Retailers (CZR) has raised alarm over the rejection of bond coins, ZWL$2 and ZWL$5 notes saying it goes against nation building efforts. In a statement CZR president, Denford Mutashu said, “The Confederation of Zimbabwe Retailers (CZR) has noted with serious concern the
Government has with immediate effect announced a price moratorium which will see prices of basic commodities reverting back to the 25 March 2020 level, 263Chat can report. Announcing the development, Vice President Kembo Mohadi who is also chairperson for the Inter-ministerial Taskforce on Covid-19 response said
The country has witnessed an improvement in the supply of roller meal in retail shops since the beginning of 21 day lockdown but this has resulted in arbitrary behavior by vendors who are taking advantage to stock the precious commodity for resale at exorbitant prices. A
Despite government announcing a 40 percent upward price adjustment on subsidized roller meal yesterday, most retail outlets in the capital have not stocked the commodity, a situation that has dashed hopes for the already economically downtrodden Zimbabweans, 263Chat Business can report. Finance and Economic Development Minister,
The Government through the Ministry of Finance and Economic Development has increased the price of subsidized mealie-meal from ZWL$50 to ZWL$70 in a move aimed at doing away with unwanted arbitrage by unscrupulous players. In a statement released today, the finance ministry said the wide gap
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