Business writer
The Confederation of Zimbabwe Retailers (CZR) has raised concern over the continued closure of wholesale and retail businesses in the country and has called for interventions to save jobs and mitigate business closures.
In a statement, CZR president, Denford Mutashu said the continued closures are reflective of harsh economic environment.
“CZR 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 formalized sector players.
“The recent closure of several oulets under the N.Richards Group, coupled with Spar Zimbabwe’s painful decision to shut down Queensdale Spar, Choppies Zimbabwe’s exit from the market, Mahommed Mussa’s significant reduction of shop space by 60 percent, highlights the growing crisis,” said Mutashu.
“As a representative 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 Presidium must intervene.
“CZR appeals to government to fast track efforts to formalize the informal sector, ensuring equitable competition and tax compliance across all players.
Streamlining and rationalizing the current licensing and compliance requirements will alleviate the pressure of formal businesses.
Immediate steps are needed to cushion formal businesses against high operating costs, including the provision of affordable financing options and addressing the dual currency challenges.
“CZR also appeals to government for specific measures to be implemented to regulate and oversee the informal sector, ensuring fair competition and compliance with statutory obligations.”