Treasury triggers legal rollout to anchor reforms

STAFF WRITER

Government will next week begin gazetting a series of legal instruments to give binding effect to far-reaching cost-cutting reforms, marking what Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube described as a decisive move to “walk the talk” on easing the cost of doing business.

The Statutory Instruments (SIs), to be rolled out across key ministries, will streamline regulatory fees, simplify licensing procedures, and align sectoral charges with Treasury’s broader fiscal-rationalisation agenda.

“In terms of legal effect to support the pronouncements I have made in reducing the cost of doing business, these will start trickling in from next week,” Professor Ncube said.

“You will see individual ministries announcing new fees and procedures through SIs, and some of these will also be reflected in the Finance Act proposals in the upcoming Budget.”

He said implementation would be gradual, allowing ministries to adjust and synchronise their frameworks with national priorities.
“Next week we will delve into the energy sector. So far, we have done parts of agriculture, retail, wholesale, transport, and tourism. We’ll continue until we cover all major sectors, including services,” he added.

The forthcoming statutory measures will operationalise reforms announced earlier this quarter, including the rationalisation of inspection and permit fees, the digitalisation of regulatory processes, and the removal of redundant compliance costs — all intended to stimulate enterprise growth and competitiveness.

Treasury insists that Zimbabwe’s reform momentum rests on a foundation of macroeconomic stability and fiscal discipline that has already earned international recognition.
“We have really hit the right chord in terms of our economic reforms and our quest for macroeconomic stability. Institutions such as the IMF have commended us for the hard work we’ve done,” Professor Ncube said. “The results are evident — a 6.6 percent growth rate this year and a projected 5 percent next year, among the fastest in the region.”

He added that tight fiscal and monetary policies had bolstered the local currency, moderated inflation, and improved investor confidence.

“Prudent fiscal management and monetary policy are helping support our currency, lowering prices, and creating that necessary stability in terms of the buying power and value of our currency. All that is hitting the right note in terms of sustainable growth and development going forward,” he said.