Zimbabwe has introduced a broad set of regulatory reforms targeting the manufacturing, financial services, real estate, and health sectors, in a move it says will cut business costs and stimulate investment.
In a statement issued Tuesday, Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, said the measures are aimed at easing compliance requirements, reducing licensing fees and removing administrative barriers affecting companies and small businesses.
The reforms include a reduction in import licence fees for manufacturers from US$100 to US$50 for most items, while factory approval plan fees charged by the National Social Security Authority will be cut by 50%. Rural district council timber transport permits will also be scrapped.
In the financial sector, authorities approved lower banking supervision fees charged by the Reserve Bank of Zimbabwe, capped at US$40,000, alongside reduced mobile money transfer charges and cheaper cash withdrawal fees for both United States dollar and ZiG transactions. Banks will also be required to offer zero-cost accounts for micro, small and medium-sized enterprises.
“These measures will lower the cost of financial services and transactions, increasing access to banking-particularly for MSMEs and underserved communities. They are also expected to promote digital financial inclusion, improve liquidity circulation and strengthen participation in the formal financial system. Over time, this will support business expansion, improve access to capital and enhance confidence in the financial sector,” Prof Ncube said.
Property developers are set to benefit from the abolition of some building permit requirements and lower occupation certificate fees. Contractor registration fees charged by local authorities will be standardised at US$20.
The health sector reforms include the removal of licensing fees for pharmacies by the Medicines Control Authority of Zimbabwe and cuts to registration and practising fees for nurses, pharmacists, laboratory scientists and medical practitioners. Private hospital approval letter fees will be capped at US$100.
Government said the measures are intended to improve the ease of doing business, encourage formalisation of small enterprises and attract domestic and foreign investment.
Officials said the reforms form part of broader efforts to support economic growth and advance Zimbabwe’s target of becoming an upper middle-income economy by 2030.