LETTICIA MAGOMBO
Bad policies by the government of Zimbabwe are hindering local businesses from reaching their full potential, analysts have said.
Zimbabwe’s economy is being ravaged by high inflation, rocketing price increases, forex shortages, currency and exchange rate volatility, among other challenges.
Annual inflation rose to 191% this month from 131 in May.
“The regulatory environment, policy inconsistency and foreign exchange controls are hitting business,” Kudzai Dave, the founder and managing director for K Davie Packaging (Pvt) Limited said.
She added: “It’s really a challenge for us because we don’t even have plans to buy raw materials due to escalating foreign exchange rates.
“I have been awarded business women of the year but I have not even received any funding from the auction, reasons maybe we don’t qualify, we will be red flagged.
Economist Reneth Mano said the government’s economic policies were hurting business.
“It’s working. When policies fail, the market fails as well,” Mano said.
