Government has approved sweeping reforms to reduce regulatory costs and eliminate duplication of licences and permits in Zimbabwe’s financial services and manufacturing sectors.
Speaking after Cabinet, Information Minister Zhemu Soda said the measures target key sub-sectors including microfinance, insurance and pensions, mobile money, FinTech, and capital markets. He noted that non-interest charges, administration fees, and establishment costs have been reduced.
In the manufacturing sector, Cabinet approved a review of licences, permits and levies across 10 sub-sectors, including beverages, agro-processing, textiles and clothing, timber, pharmaceuticals, motor vehicle assembly, and iron and steel.
Key changes include:
- Removal of Rural District Council timber movement permits
- Consolidation of registration and monitoring licences previously charged separately
- Reduction of fees such as general import licences and radiation-related licences
Government said the reforms are aimed at improving ease of doing business and reducing the cost burden on industry. A comprehensive schedule of the revised fees and permits will be released following further refinements.
