ANOTHER INFERNO: Shop in Kadoma CBD gutted by fire

A shop in Kadoma’s Central Business District, opposite Comoil, was destroyed by fire, reports Crime Watch Zimbabwe.

The fire took place few days after another inferno destroyed Mbare Musika in Harare.

Mbare Musika is a critical trading hub, where farmers bring fresh produce for sale and residents rely on its services as a transit point for long-distance travel across the country.

With the country’s economy being largely informal any disruption to this market, could have severe and widespread impact.

The size of Zimbabwe’s informal economy is estimated to be 64.1% which represents approximately $42 billion at gross domestic product (GDP) purchasing power parity (PPP) levels.

Zimbabwe has one of the largest informal job and firm sectors in the world. The productivity of informal firms is only a fraction of the productivity of formal firms.

The informal sector enterprises have been defined as entities having among others the following characteristics: enterprises are run on average by young people; starting capital is normally derived from personal/family savings; technology is simple and some participants are very highly skilled.

The goods and services are highly fraction able and customised; reliance on indigenous resources and the sector operates outside official controls and enterprises are not registered with the registrar of companies and/or cooperatives of Zimbabwe.

Zwnews