Confederation of Zimbabwe Retailers (CZR) president Denford Mutashu said the retail sector is buckling under the weight of macroeconomic instability, falling consumer demand, and a sharp decline in business confidence. “The Confederation of Zimbabwe Retailers shares the concern of workers, consumers, and industry stakeholders over these troubling developments, which reflect broader structural and economic challenges facing the retail and wholesale sector,” Mutashu said.
While exact figures are difficult to verify, the extent of the downturn is substantial.
Formal retailers are struggling to survive amid softening demand, sky-high interest rates, erratic electricity supply, and growing competition from the informal market. “The sector, which remains one of the largest employers in the formal economy, is under considerable pressure.
Instability in the sector directly impacts employment and weakens the broader value chain, including manufacturing, agriculture, transport and logistics,” Mutashu added. 🔗 Read Full Article
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