Mthuli Ncube announces new measures as supermarkets shut branches

Finance and Investment Promotion minister Mthuli Ncube has blamed current crisis being faced by supermarkets on “competition from the informal sector.

He also blamed poor management and
poor corporate governance on the part of big shops which have resulted in business failure in some instances.

This comes as a number of supermarkets close certain branches, while others close completely due to economic challenges.

Among his new steps, without giving detail:• Cutting fees and processes to reduce costs for formal businesses

• Enforcing tax compliance in informal sector.• ‘Discouraging’ manufacturers from supplying direct to tuckshops
• RBZ to announce new measures.