9mobile has come out in full force to dismiss the recent rumors swirling about a possible shutdown of its operations. In a firm statement issued by top management, the telecom…

In a decisive move to bolster the nation’s economic landscape, the Zimbabwean government has announced plans to significantly reduce taxes and regulatory fees within the next six months. This initiative aims to enhance the ease of doing business and attract both local and international investors.

Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube, revealed that a dedicated committee has been established to review the existing tax and regulatory framework. The committee’s mandate includes identifying taxes and fees that can be reduced or eliminated to alleviate the financial burden on businesses. This approach is expected to streamline operations and foster a more conducive environment for business growth.

The high cost of doing business in Zimbabwe has been a longstanding concern, with businesses often required to obtain numerous permits and licenses, leading to increased operational costs. By addressing these challenges, the government aims to simplify the licensing process and reduce associated expenses, thereby improving overall business competitiveness.

This strategic move aligns with Zimbabwe’s broader economic objectives of stimulating industrial growth, creating employment opportunities, and enhancing the country’s appeal as a viable investment destination. The anticipated tax and fee reductions are poised to expand the formal economy, encouraging more businesses to transition from informal operations.