The Government has announced stringent measures to combat unjust price hikes, currency manipulation, smuggling, and other unfair trade practices. In an effort to safeguard the economy and protect consumers, penalties for such offences will be significantly increased.
The revised fines will range from a minimum of US$200 (Level 5) to a maximum of US$5,000 (Level 14) or the equivalent in Zimbabwean Gold (ZiG) currency, depending on the severity of the offence. This marks a substantial hike aimed at deterring illegal activities and ensuring fair market practices.
Additionally, the Government plans to streamline the licensing process. Licenses will be rationalized and consolidated, enabling businesses to obtain all necessary permits from a single office. This move is expected to reduce bureaucracy and improve compliance among traders.
