Tuesday, July 8, 2025
No Result
View All Result
News Report  Zimbabwe
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
No Result
View All Result
News Report  Zimbabwe
No Result
View All Result
Home Business

N Richards closes two outlets in Harare

January 27, 2025
0
N Richards closes two outlets in Harare

N Richards, one of Zimbabwe’s largest retailers, has closed its outlets in Hatcliffe and Tynwald, further highlighting the challenges plaguing the formal retail sector as businesses struggle under economic pressures.

A number of Zimbabwe’s most well-known brands, including prominent retail chains, like OK Zimbabwe, are reportedly facing imminent bankruptcy due to the ongoing economic crisis that has pushed them to their limits.

According to reports, these are grappling with difficulties in restocking due to the ongoing ZIG crisis.

ALSO READ: PICTURES: Notorious Harare Street kid’s face finally revealed!

The Confederation of Zimbabwe Retailers (CZR), which regularly presents carefully-worded insights to the government, has raised alarms over the sustainability of formal retail shops, citing that the dual currency system, which forces retailers to accept Zimbabwean dollars while operating in a dollarized supply chain, contributes to this instability.

CZR emphasized the severe impact of these closures on the industry, stating: “The continued closure of formal retail and wholesale businesses underscores the crisis. The fiscal, monetary, regulatory, and statutory frameworks have created an uneven playing field. While formal businesses crumble, the informal sector thrives unchecked, eroding market share.”

The country’s formal retail landscape has been unable to compete with the unregulated informal market, which benefits from evading taxes, licensing fees, and compliance with labor laws.

Reflecting on the current situation, CZR has urged authorities to intervene and stabilize the sector urgently.

 

Related Posts

Zimbabwe’s Bold Move: Securitizing Diaspora Remittances

Zimbabwe’s Bold Move: Securitizing Diaspora Remittances

by Nyathi
July 4, 2025
0

The Reserve Bank of Zimbabwe (RBZ) is set to introduce a groundbreaking financial initiative that could unlock over $1 billion...

Zimbabwe’s Informal Sector: A $7.5 Billion Tax Revenue Opportunity

Zimbabwe’s Informal Sector: A $7.5 Billion Tax Revenue Opportunity

by Nyathi
July 4, 2025
0

The African Development Bank (AfDB) has sounded the alarm on Zimbabwe's informal sector, estimating that the country is losing between...

Landmark Ruling: High Court Declares Malunga Farm Expropriation Unlawful

Landmark Ruling: High Court Declares Malunga Farm Expropriation Unlawful

by Nyathi
July 3, 2025
0

In a significant victory for property rights, the Bulawayo High Court has ruled that the government's expropriation of land owned...

Zimbabwe’s Grain Milling Sector Under Siege: Local Millers Cry Foul Over Foreign Invasion

Zimbabwe’s Grain Milling Sector Under Siege: Local Millers Cry Foul Over Foreign Invasion

by Nyathi
July 3, 2025
0

In a bizarre twist, Zimbabwe's grain milling sector, reserved for locals by law, has been invaded by foreign nationals –...

Zimbabwe to Crush Illegal Gambling Machines

Zimbabwe to Crush Illegal Gambling Machines

by Nyathi
July 2, 2025
0

The Lotteries and Gaming Board of Zimbabwe is set to destroy a batch of illegal gambling machines in Beitbridge on...

POWER PLAY: Temba Mliswa Ousted from CP Chemicals Amidst Governance Turmoil

POWER PLAY: Temba Mliswa Ousted from CP Chemicals Amidst Governance Turmoil

by Nyathi
July 2, 2025
0

In a shocking move, outspoken politician and businessman Temba Mliswa has been unceremoniously dumped as Director and Chairperson of CP...

Please login to join discussion

Trending News Today

  • The $200,000 Question Mark: A Clinic That Doesn’t Add Up

    The $200,000 Question Mark: A Clinic That Doesn’t Add Up

    99 shares
    Share 40 Tweet 25
  • Fake Certificate Lands Dental Aspirant in Hot Water.

    92 shares
    Share 37 Tweet 23
  • Bona Mugabe’s Divorce Saga Takes a Dramatic Turn

    76 shares
    Share 30 Tweet 19
  • BETRAYAL OF TRUST: Friendship Turns to Fury Over Affair

    53 shares
    Share 21 Tweet 13
  • Harare Man Arrested for Attempting to Sell Human Fetus as Beef

    93 shares
    Share 37 Tweet 23
  • Tagwirei Not Ready for Top Zanu PF Role, Says Mutsvangwa

    28 shares
    Share 11 Tweet 7
  • Teacher Takes Own Life at Kwite Primary School

    146 shares
    Share 58 Tweet 37
  • Texas Floods ;A Devastating Disaster

    24 shares
    Share 10 Tweet 6
  • Zimbabwe’s CVR Rocked by Sophisticated Scam: A Warning to All

    86 shares
    Share 34 Tweet 22
  • Family Feud Turns Deadly: Grandson Accused of Killing 89-Year-Old Grandmother

    112 shares
    Share 45 Tweet 28

Popular This Week

  • $4 Million Ecobank Heist: Security Guard Arrested in Major Breakthrough

    $4 Million Ecobank Heist: Security Guard Arrested in Major Breakthrough

    211 shares
    Share 84 Tweet 53
  • Teacher Takes Own Life at Kwite Primary School

    146 shares
    Share 58 Tweet 37
  • 50 Cent’s Ex Exposes Him as a Cheapskate

    134 shares
    Share 54 Tweet 34
  • Family Feud Turns Deadly: Grandson Accused of Killing 89-Year-Old Grandmother

    112 shares
    Share 45 Tweet 28
  • The $200,000 Question Mark: A Clinic That Doesn’t Add Up

    99 shares
    Share 40 Tweet 25
  • Harare Man Arrested for Attempting to Sell Human Fetus as Beef

    93 shares
    Share 37 Tweet 23
  • Fake Certificate Lands Dental Aspirant in Hot Water.

    92 shares
    Share 37 Tweet 23
  • Mai Titi’s Latest Drama: Arrest and US$100K Suit Threatened

    91 shares
    Share 36 Tweet 23
  • Police Crack Down on Illicit Liquor Factory

    89 shares
    Share 36 Tweet 22
  • Zimbabwe’s CVR Rocked by Sophisticated Scam: A Warning to All

    86 shares
    Share 34 Tweet 22

Popular This Month

  • Susan Mutami’s Desperate Plea To  Temba  Mliswa

    Susan Mutami’s Desperate Plea To Temba Mliswa

    461 shares
    Share 184 Tweet 115
  • Roosevelt Girls High School in Hot Water: Parents Raise Concerns Over Fees and Governance

    395 shares
    Share 158 Tweet 99
  • Courtroom Exchange: Mai Jeremiah Questioned by Defense Lawyer

    352 shares
    Share 141 Tweet 88
  • Street Preacher’s Double Life Exposed

    300 shares
    Share 120 Tweet 75
  • 77-Year Marriage Ends Over 60-Year-Old Secret

    278 shares
    Share 111 Tweet 70
  • Former President Robert Mugabe’s Son , Chatunga Causes Havoc in Mazowe

    275 shares
    Share 110 Tweet 69
  • Man Narrowly Escapes Becoming a Lion Snack

    261 shares
    Share 104 Tweet 65
  • The Whipping Girls of Limpopo

    261 shares
    Share 104 Tweet 65
  • The Pilot Who Flew Under the Radar for 20 Years

    244 shares
    Share 98 Tweet 61
  • “Sekuru Malawi” Scams in Mbare

    237 shares
    Share 95 Tweet 59

Most Read Stories

  • “Zimbabwe Is Discrediting SADC”

    ZANU PF Accused Of Bribing SADC Elders To Retain From Losing Power

    5251 shares
    Share 2100 Tweet 1313
  • Madzibaba gets Toyota Aqua after explaining new currency ZiG to church

    4544 shares
    Share 1818 Tweet 1136
  • Breaking News: Zimbabwe launches New Currency (Zig)

    4283 shares
    Share 1713 Tweet 1071
  • Guide : How to access 2023 Zimsec Ordinary O Level results online

    3977 shares
    Share 1591 Tweet 994
  • Uganda Police Officer Shoots Wife Dead After Mocking Him Over Man-U Loss

    3905 shares
    Share 1562 Tweet 976
  • Floods hit Gweru

    3596 shares
    Share 1438 Tweet 899
  • Mashura pa Gokwe musi wa 12.02.24

    3548 shares
    Share 1419 Tweet 887
  • Secret message for ED after his inauguration

    3487 shares
    Share 1395 Tweet 872
  • Heatwave Warning:Expect Extremely hot temp ranging from 36° to 41° until 12 March

    3396 shares
    Share 1358 Tweet 849
  • Here is the reckless Kombi Driver!!!!!!!!!!! See pics here

    3223 shares
    Share 1289 Tweet 806

  • About Us
  • Contact Us
  • Privacy Policy
  • FAQ
  • Terms of Service
  • Home

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News