CZR Welcomes 2025 Mid-Term Fiscal Policy Statement Measures

Strategic Insights -

The Confederation of Zimbabwe Retailers (CZR) has praised the 2025 Mid-Term Fiscal Policy Statement, hailing it as timely interventions to revitalize the retail and wholesale sector. The CZR President, Mr. Denford Mutashu, commended Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube for initiatives aimed at strengthening the sector's role as a driver of national economic growth. The retail and wholesale industry currently contributes around 11.9% to GDP, a significant decrease from over 20% in previous years due to operational challenges.

Key Takeaways:

  • The CZR has welcomed the ongoing development of a Retail and Wholesale Sector Policy, which will create an enabling framework for investment, growth, and competitiveness.
  • The retail and wholesale industry currently contributes around 11.9% to GDP, a decrease from over 20% in previous years due to operational challenges.
  • The CZR has praised macroeconomic stability, including the prevailing exchange rate and price stability, as a key driver of growth.
  • The Reserve Bank's Targeted Finance Facility has been welcomed as a targeted support measure for the sector.
  • The CZR has backed the Government's direction to review and rationalize licenses, permit fees, and levies across 12 key sectors to eliminate bureaucratic red tape and enhance the ease of doing business.
  • The organisation has also supported the anti-smuggling taskforce chaired by the Ministry of Industry and Commerce, which aims to combat smuggling, currency manipulation, and the sale of expired and improperly labelled products.
  • The CZR has expressed optimism that increased consumer spending will stimulate demand and boost retail and wholesale sales, projecting GDP growth of 6% this year.

Statistics:

  • The retail and wholesale industry currently contributes around 11.9% to GDP.
  • GDP growth is projected at 6 percent this year.
  • Over 20% of the retail and wholesale sector's contribution to GDP was lost in previous years due to operational challenges.
  • The Reserve Bank's Targeted Finance Facility is a targeted support measure for the sector.

Sources:

  • "Statement from CZR Welcoming Measures in 2025 Mid-Term Fiscal Policy Statement" (unspecified source, likely from the Confederation of Zimbabwe Retailers)
  • Statutory Instrument 34 of 2025 ( Zimbabwean government legislation)