Business leaders demand crisis talks with Mnangagwa

Zimbabwe's business leaders are pressing for an urgent meeting with President Emmerson Mnangagwa, warning that unresolved economic challenges require his direct intervention as ministries and regulators have failed to deliver meaningful progress.

Industry executives said only the Head of State's leadership can accelerate reforms, restore confidence, and position the country to compete under the African Continental Free Trade Area (AfCFTA). Although they have engaged Treasury, the Ministry of Industry and Commerce, and the Reserve Bank of Zimbabwe (RBZ), business leaders argue that key concerns have either been partially addressed or ignored.

Speaking at a structured government–business dialogue this week, Confederation of Zimbabwe Industries (CZI) chief executive officer Sekai Kuvarika said the regulatory reform agenda had stalled and required Mnangagwa's personal drive.

"We really need this reform agenda to be driven by the Head of State, not just the statement he made earlier and the committees that have been formed," Kuvarika said. "We want to see regulations being retired weekly, with announcements made after every Cabinet briefing. That would boost confidence and discipline the system."

She cited Argentina's "one deregulation per day" model under President Javier Milei as an example of the bold reforms Zimbabwe needs, adding that without presidential leadership, the reform programme risks stagnation.

Zimbabwe National Chamber of Commerce (ZNCC) president Tapiwa Karoro echoed the call, saying direct engagement with Mnangagwa would give business leaders confidence that reforms are being taken seriously. "At times the father in the house needs to hear it directly from the children's mouths," Karoro said.

Executives also warned that government's definition of economic growth overlooks distressed companies weighed down by costly borrowing and shrinking margins. Kuvarika stressed that struggling firms, rather than cash-rich blue chips, should be the key indicator of Zimbabwe's economic health.

CEO Africa Roundtable chairman Oswell Binha cautioned that fragile stability is being undermined by liquidity shortages, a managed exchange rate, rising domestic debt, and delayed payments to exporters. "The Government is a serious bad debtor, which is crippling the industry," Binha said, criticising delayed ZiG disbursements and surrender requirements as expropriatory.

Binha also flagged chronic energy shortages and high levels of informality as persistent barriers to competitiveness. "Energy is the lifeblood of industry and we have been talking about this crisis for more than three decades," he said. "Token reforms will not work. What is needed is an economy-wide approach, driven from the top."

The Confederation of Zimbabwe Retailers (CZR) added that exchange rate volatility, costly financing, and policy inconsistency were forcing operators to shut down, undermining a sector that links agriculture, manufacturing, transport, and finance. Acting CEO Innocent Marimo called for a dedicated concessionary credit window for retailers and wholesalers to stabilise supply chains and safeguard formal commerce.

Business organisations also renewed demands for the removal of the Intermediate Money Transfer Tax (IMTT), calling it one of the heaviest costs burdening formal operators. They proposed making IMTT tax-deductible to shift the burden onto informal traders who dominate large sections of the economy.

Despite acknowledging some progress since the reform agenda was initiated in 2017, executives said the pace remains far too slow. They now insist that only Mnangagwa's direct leadership can unlock momentum and deliver the reforms needed to make Zimbabwe competitive under AfCFTA.