Farai Mabeza, Senior Staff Writer 
THE Zimbabwe National Chamber of Commerce (ZNCC) says too many statutory instruments (SIs) are stifling business operations.
This comes as a 2022 State of Industry and Commerce Survey noted that captains of industry wanted stakeholder consultations and impact studies before statutory instruments were introduced to enhance buy-in.
Mike Kamungeremu, ZNCC president
“The real concern from members… was that having too many SIs meant having too many laws. They felt over-regulated. This is the reason why in some sectors one needs more than 10 licences to operate. The cost of compliance is too high,” ZNCC president Mike Kamungeremu told The Financial Gazette this week.
According to the State of Industry and Commerce Survey, despite the establishment of the Zimbabwe Investment Development Agency, red tape and multiple licences remained major inhibitors to doing business in Zimbabwe.
More reforms are still needed in the licensing regime and towards enhancing efficiency in public service delivery, the report observed.
Kamungeremu, however, said business remained optimistic that the government will address the concerns relating to SIs.
“We are very hopeful. Our relations with government are very good. We have been engaging in very frank discussions with them and they have been listening. We are consulted even before the national budget is announced.
“This is the reason why the minister of Finance reduced the IMTT on forex transactions from four percent to two percent, despite its obvious effect on revenue collection. He listened to our submissions,” Kamungeremu said.
“We have been meeting government regularly at the Tripartite Negotiating Forum and we are hopeful they will continue consulting before any major policy changes so that we continue to have a stable macroeconomic environment devoid of surprises and upsets.”
Business recently said authorities needed to further improve the country’s ease-of-doing business climate to boost local and foreign investment.
This was after 74 percent of respondents in the survey warned that Zimbabwe’s business operating environment was unfriendly.
“In the 2021 … survey, it was flagged out that among the key pillars on the ease-of-doing business, paying taxes, getting electricity, getting credit and trading across borders were the poorest performing indicators.
“Considering the issues raised by stakeholders then, it is crucial to assess the current situation and check whether there is an improvement or not,” ZNCC said in the report.
