AutoForum - November / December 2018
Government is working on appropriate incentives to
Next at the podium was the Economic Regulation
encourage exports,” he said.
Manager from the Zimbabwe Energy Regulatory Authority (ZERA), Learnmore Nechitoro who addressed the
Ndlovu went on to say: “the new government is positive
challenges of the electric power sector in Zimbabwe.
towards business and has a willingness to restore a
Nechitoro outlined the relevant laws, the sector structure,
normal relationship with the international community,
generation; transmission & distribution constraints, as
showing respect for investor concerns by the removal
well as the performance of Kariba and IPP participation
of investment pediments like the indigenisation and
and requirements. He discussed the revenue collection
economic empowerment regulations, as well as the
challenges, saying the utility owed in excess of $1 Billion.
establishment of the One Stop Investment Centre (ZIDA).”
In his conclusion he stated the country had enough resources to supply itself and export to the region, saying
The minister highlighted his 2019 budget proposals for the
the low cost of hydro and solar power will act as catalysts
motor industry, which included:
in the reduction of overall electricity costs.
• Tax incentives for the creation of new jobs • Customs duty, import VAT and surtax on imported
At the onset of her Post Budget 2019 Analysis
motor vehicles payable in foreign currency, with effect
presentation, Christina Muzerengi of Grant Thornton
from 23 November 2018 (this excludes commercial
and Associates jovially reiterated that she was “only the
messenger” regarding her detailed summary and analysis
The measure is envisaged to reduce imports of second
of the 2019 Zimbabwean Budget proposal.
hand cars which compete with new vehicles on the market.
As part of her analysis, Christina mentioned that the 2019 National Budget constituted the first macro-fiscal
He concluded saying:“It is my earnest hope that the motor
financial framework for implementing the Transitional
industry and government, working together, can turn the
Stabilisation Programme (TSP), which is an initial stepping
economy around. We need to look seriously at our core
stone towards realising Vision 2030. This is designed to
commitments, each co-operating partner should play their
guide not only the fiscal, but also the monetary and other
part and together we can revitalize the motor industry. We
economic policies during its subsistence.
hope to create an export orientated industry, with strong global and regional alliance to ensure globally competitive
Word from the President of Zimbabwe has been very clear
quality and optimal capacity utilisation. The motor industry
“that there is no alternative to a strong, sustainable and
must be co-ordinated and well positioned to ensure value
shared growth except through expenditure cuts” and the
addition and job creation, capitalising on improved market
budget is testimony to that. A shortage of forex remains
access with, amongst things an affordable vehicle.”
a contentious issue in Zimbabwe, whereby it is illegal to trade in forex, however it is required that all taxes must be
He urged delegates to look beyond the current economic
paid in forex and not
challenges. With those statements Minister Ndlovu
officially opened the 2018 MIAZ congress.