Government will next week begin gazetting a series of Statutory Instruments (SIs) aimed at giving legal effect to new measures designed to reduce the cost of doing business in Zimbabwe, marking a major step in the Second Republic’s ongoing economic reform agenda.
The roll-out will be gradual across ministries, as the reforms first announced by the Treasury are translated into formal legal instruments covering sectors such as agriculture, retail, transport, and tourism. Some of the measures will also be incorporated into the upcoming Finance Act proposals, ensuring consistency across national policy frameworks.
Speaking on the sidelines of the just-ended Pre-Budget Seminar in Bulawayo recently, the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, confirmed that the Government was moving swiftly to ensure that the reforms are implemented without delay. He said the administration was determined to “walk the talk” on reducing operational costs and improving Zimbabwe’s competitiveness.
“In terms of legal effect to support the pronouncements I have made in reducing the cost of doing business, these will start trickling in from next week. You will see individual ministries announcing new fees and procedures through SIs, and some of these will also be reflected in the Finance Act proposals in the upcoming Budget,” said Prof Ncube.
He explained that the implementation would proceed systematically, allowing ministries to align their regulatory frameworks with national priorities.
“Next week we will delve into the energy sector. So far, we have done parts of agriculture, retail, wholesale, transport, and tourism. We will continue until we cover all major sectors, including services,” he added.
According to the Treasury, the policy shift is part of a broader economic modernisation strategy, underpinned by prudent fiscal management and sound monetary policy. These have already helped stabilise the economy and restore investor confidence.
“We have really hit the right chord in terms of our economic reforms and our quest for macroeconomic stability. Institutions such as the IMF have commended us for the hard work we have done. The results are evident resulting in a 6.6 percent growth rate this year and a projected 5 percent next year,” Prof Ncube noted.
He said Zimbabwe’s economic growth trajectory remains strong, supported by currency stability, declining inflation, and improved business sentiment.
Government’s drive to lower the cost of doing business forms part of efforts to attract investment, boost productivity, and enhance job creation under the National Development Strategy 1 (NDS1). With reforms now entering the implementation phase, stakeholders expect a more conducive environment for both local and foreign investors.
As Zimbabwe transitions towards industrialisation and inclusive growth, these legal reforms signal a firm commitment by the government to ensure that the private sector remains at the centre of economic transformation.
