Business loses confidence in Mnangagwa

THE business community appears to have lost confidence in President Emmerson Mnangagwa’s new political dispensation, with the latest Confederation of Zimbabwe Industries (CZI)’s composite Business Confidence Index (BCI) indicating a negative trajectory, particularly in the first quarter of this year.

Since he took over levers of power in November last year, Mnangagwa’s administration had been riding on a wave of optimism, but the pessimism later cripped in following the regime’s failure to resolve the cash crisis, with industry battling to source foreign currency to import raw materials.

Announcing the BCI results in Harare yesterday, CZI president Sifelani Jabangwe said the composite Business Confidence Index for the first quarter of 2018 stood at minus 14,4 for quarter-on-quarter basis and 20,9 for a year-on-year.

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