eBusiness Weekly
Note from ZNCC
The Zimbabwe National Chamber Commerce takes pride in leading discourse on national issues pertaining to industry and commerce and will continue working closely with the Ministry of Industry and Commerce and the other arms of the Government to see through the implementation of outstanding and new recommendations from the Annual State of Industry and Commerce Survey.
Some of the issues coming out of the 2023 State of Industry and Commerce Survey have emanated from various economic dialogue forums such as the 2023 ZNCC Annual Congress, Economic Policy Dialogue Forum, breakfast meetings and luncheons.
These are all earmarked to bring all key stakeholders under one roof to find lasting solutions for accelerated economic development.
The Zimbabwe National Chamber of Commerce (ZNCC) whose mandate is centred on lobbying and advocacy continues to undertake research in partnership with developmental organisations such as the Friedrich Naumann Foundation for Freedom (FNF) and the United Nations Development Programme (UNDP) Zimbabwe.
The research is earmarked to enhance evidence-based policy making in Zimbabwe and the chamber’s standing positions in influencing policy on behalf of its broad membership.
The 2023 Annual State of Industry and Commerce is the third edition of such an offering from the chamber and the previous two editions have been well received by the Government and the wider audience including the private sector and international organisations.
ZNCC will continue to take into serious consideration the feedback from all stakeholders in an endeavour to improve the quality and relevance of the survey report.
The 2023 edition encompasses a whole section on the informal sector which has come to be recognised as key to any policy proposals that may come out of the State of Industry and Commerce Surveys.
The Government is commended for taking into consideration the policy suggestions from the previous surveys through monetary policy statements and budget statements.
The survey presents an opportunity to gauge performance in 2023 at both firm and national levels and assess the extent to which policy propositions from previous State of Industry and Commerce Surveys have been implemented.
The survey also provides a track of the regulatory and policy environment as we seek to aid in the Government’s agenda to significantly implement Ease of Doing Business reforms.
The chamber continues to stand as a premier channel of communication between the private sector, the Government and the international community, among other key stakeholders.
“The Voice of Business” is well-captured in this survey report and the private sector is urged to continue participating in such initiatives. This is part of the agenda towards accelerated transformation of economic realities into market opportunities.
ZNCC, its National Executive Council, and its broad membership do appreciate the continued recognition and sincere consideration of its policy proposals by the Government of Zimbabwe from time to time.
A number of success stories have been realised in the 2023 calendar year in that some of the recommendations from the position papers and Annual State of Industry and Commerce Surveys have been taken on board.
These include the foreign exchange market reforms, multi-currency regime, operating processes for Government Ministries, departments and agencies like ZIMRA and the Registrar of Companies, digitalisation of Government processes, and downward review of interest rates among others.
It is always good to celebrate even the small wins and the chamber will always continue to aim high as the organisation furthers the interests of the Zimbabwean business community at large.
While all parties work towards transforming economic realities into market opportunities, there is a need to be well aware of the state of the economy businesses are operating in to guide in decision making and such information is necessary on a regular basis.
Thus, the ZNCC State of Industry and Commerce Survey is undertaken annually for such purposes.
Halfway through the implementation of the Sustainable Development Goals (SDGs) (2015-2030) and the National Development Strategy I (NDS1) (2021-2025), significant progress is being made to transform the economy through strategic and deliberate efforts from all key stakeholders.
However, there is a greater need to accelerate the action being taken and continuously avail adequate resources for the effective implementation of the set targets and realisation of the aspirations of the majority.
As the NDS1 places the private sector as the engine of economic growth and development, ZNCC harnesses to continuously provide solutions that foster a private sector-led economic recovery and growth.
Thus, the chamber implores the relevant authorities to loosen the grip on the market and allow markets to function at the optimal level.
Over the years, command economics has been dominant and somewhat suffocating the effective and efficient functioning of financial and capital markets. Creating an enabling environment is the talk of the town and it is not new.
In this regard, the private sector is calling on the Government of Zimbabwe to entrench the rule of law, ensure efficient service delivery and provide certainty within the policy environment.
The value proposition is for the policymakers to religiously implement the policy proposals from key stakeholders, following due diligence of course. A conducive operating environment benefits all economic players including the Government itself.
The need for research and evidence-based policymaking is always of paramount importance and accordingly, ZNCC is set to launch the 2023 State of Industry and Commerce Survey Report during the 2023 Business Review Conference scheduled for December 7, 2023 at Cresta Lodge in Msasa, Harare.
A line up of speakers and panellists has already been drawn from a number of reputable and well-renowned organisations such as the International Monetary Fund, World Bank, United Nations Development Programme, and various Government Ministries, agencies and departments.
As 2023 closes, this is surely not an event to miss.
The Business Review Conference is hosted in December every year by the ZNCC in which topical issues are deliberated on.
The conference was added on the chamber’s calendar of events to facilitate the convergence of key stakeholders under one roof to discuss issues pertaining to the industry and commerce sector.
Broad aspects related to the policy environment are discussed in an endeavour to lay down a sustainable path towards growth and profitability.
This article was prepared by the Zimbabwe National Chamber of Commerce for Business Weekly
