THE City of Kadoma has taken a significant step to boost economic growth by reducing business license fees by almost 50%.
The move is expected to stimulate small business growth, particularly among women and youth operators, and make the city more attractive to investors.
The reduction in fees was part of the city's efforts to improve the ease of doing business and create a more conducive environment for entrepreneurship and innovation.
This was revealed during the addendum full council meeting held on January 6, where the council reviewed and approved significant reductions in license fees for various businesses.
General dealers (groceries) will now pay US$218, down from $500, hardware businesses will pay US$187, down from US$500, and kitchenware businesses will pay US$76, down from US$500, with immediate effect.
This decision was guided by a recent directive from Cabinet aimed at easing the cost of doing business, as outlined in the Shop Licenses Act (14:17).
Speaking soon after the full council meeting, Kadoma mayor Nigel Ruzario said they were committed to creating a conducive business environment in Kadoma, and this decision to slash business license fees by almost 50% was a significant step in that direction.
"We are committed to creating a conducive business environment in Kadoma, and this decision to slash business license fees by almost 50% is a significant step in that direction,” Ruzario said.
- Awards target married couples
- Awards target married couples
- Environmentalist hails BCC new parking system
- Sibanda living his writing dream
Keep Reading
“We believe that by reducing the cost of doing business, we can stimulate economic growth, create jobs, and improve the livelihoods of our citizens.
"We urge all business operators in Kadoma to take advantage of this opportunity and comply with the new license fee structure.
“We assure our stakeholders that the City of Kadoma is committed to providing quality services and infrastructure to support business growth and development.
“We encourage all eligible businesses to pay their licenses promptly and take full advantage of the conducive business environment we are creating.”
The new fee structure is a welcome relief for many small businesses in Kadoma. Under the new rates, small shops will now pay US$200 a year, down from US$400 while hawkers will pay US$58, down from US$115.
This reduction is expected to benefit hundreds of small businesses, allowing them to allocate more resources to growth and development. Notably, some licence fees will remain unchanged, with the council opting to maintain current rates for certain businesses.
The City of Kadoma's decision is in line with the government's broader efforts to promote economic recovery and growth.
Government has been implementing reforms to improve the business environment, including reducing bureaucratic hurdles and simplifying licensing processes.
In a further gesture of support, Kadoma has announced that business operators who had already paid their licence fees prior to the full council meeting will have their licence validity extended to 2027/8.
The proposed announcement states that the new business licence fees will be payable in both United States dollars and Zimbabwe Gold (ZiG) currency, in line with the country's multi-currency system and the Reserve Bank of Zimbabwe's exchange rate policies.
This move is aimed at facilitating ease of payment for businesses and promoting a smooth transition to the new fee structure.
Kadoma's decision to reduce business license fees by almost 50% is a welcome move that is expected to have a positive impact on the local economy.
By making it easier and more affordable for businesses to operate, the city is creating a more conducive environment for entrepreneurship and innovation to thrive.
As Kadoma continues to implement business-friendly policies, it is likely to attract more investors and stimulate economic growth.
