Farai Mwakutuya

@tawandan1 argued that Zimbabwe's challenge is not the overall tax-to-GDP ratio, which at approximately 14.8% remains below the African average and well below many advanced economies, but the excessive layering of taxes, levies, surtaxes, fees, and other statutory charges imposed on a shrinking formal sector. He observed that the compliant taxpayer continues to shoulder an increasingly disproportionate burden as informality expands, ultimately eroding the tax base rather than broadening it. He further noted that Zimbabwe's high interest rates remain uncompetitive by regional and international standards, constraining investment and business expansion. On regulation, he cautioned against the tendency to regulate innovation prematurely, citing the proposed regulation of real estate tokenisation shortly after its market introduction. He concluded that addressing the "triple crunch" requires reducing regulatory overreach, rationalising the tax structure, improving access to affordable finance, and allowing innovation to flourish, while businesses themselves must continuously restructure and innovate to remain competitive without undermining their productive base.

Navigating the “Tripple Crunch”- High Interest Rates, High Taxes, and Regulatory Burden: Strategies for Corporate Survival and Competitiveness at both Local and National Government The session acknowledged that Zimbabwean businesses are operating under a "triple crunch" of high interest rates, high tax burden, and a complex regulatory environment, which collectively undermine productivity, investment, and competitiveness. While progress has been made in stabilising the macroeconomic environment and advancing regulatory reforms, the panel stressed that implementation must now translate into measurable improvements on the ground. Discussions highlighted the need for affordable long-term financing, a more growth-oriented and predictable tax framework, streamlined regulatory processes, and stronger coordination between national and local government. The session concluded that restoring business competitiveness requires a balanced policy approach that safeguards macroeconomic stability while creating an enabling environment for enterprise growth, investment, formalisation, and job creation.

The 2026 ZNCC Annual Congress challenges Zimbabwe to move beyond resilience and focus on building a truly competitive, productive, and industrialised economy. Over the next two days, business leaders, policymakers, development partners, and academia will engage on practical solutions to unlock sustainable growth, investment, innovation, and trade opportunities. Most importantly, this Congress seeks to convert dialogue into action by shaping partnerships, influencing policy, and advancing Zimbabwe's competitiveness agenda.