Zim Retail Sector on Brink of Collapse, CZR Calls for Presidential Intervention

By Loyd Matare
Zimbabwe’s retail sector is on the brink of collapse, with numerous formal retail and wholesale businesses shutting down nationwide due to operational challenges.
The Confederation of Zimbabwe Retailers (CZR) has made a desperate plea to President Emmerson Mnangagwa to intervene and save the sector.
According to CZR president Denford Mutashu, the continued closure of formal retail and wholesale businesses is a direct consequence of the tough economic environment.
“The recent closure of several outlets under the N. Richards Group, coupled with Spar Zimbabwe’s painful decision to shut down Queensdale Spar, Choppies Zimbabwe’s exit from the market, and Mahommed Mussa’s significant reduction of shop space by 60%, highlights the growing crisis,” Mutashu said.
The CZR is concerned that authorities are downplaying the crisis, while formal businesses face enormous challenges.
“As the representative association for these and other brands, CZR is alarmed that while formal businesses face enormous challenges, the authorities continue to present a different picture of the operating environment,” Mutashu added.
Given the situation, Mutashu believes that only President Mnangagwa can rescue the troubled sector.
“CZR therefore calls for urgent intervention from His Excellency, President Emmerson Dambudzo Mnangagwa, to rescue what remains of the formalized retail and wholesale sector,” Mutashu said.
The sector is in urgent need of rescue, with Mutashu emphasizing that the root causes of these challenges are fiscal and monetary in nature.
“While CZR acknowledges the continued support from the Ministry of Industry and Commerce, it is clear that the root causes of these challenges are fiscal and monetary in nature. These require urgent and decisive action to ensure the survival of formal businesses,” Mutashu said.
The CZR has appealed to the Presidium to prioritize interventions aimed at saving jobs and mitigating the ongoing wave of shop closures and retrenchments.
As the situation continues to deteriorate, it remains to be seen whether President Mnangagwa will intervene to save Zimbabwe’s struggling retail sector.