Industry owes Harare ZiG4bn as Mafume pleads for payments

ZIMBABWEAN companies are sitting on roughly ZiG4 billion in unpaid municipal bills to Harare City Council, confirming mounting liquidity constraints in industry as firms struggle to meet basic operating costs, NewsDay Business can reveal.

The ZiG4 billion converts to US$158,52 million, showcasing the extent to which firms are grappling with liquidity constraints and struggling to meet even basic municipal obligations amid a challenging operating environment.

In January, the World Bank renewed calls for the Zimbabwean government to urgently cut bureaucratic red tape and streamline regulations to spur private-sector growth and job creation.

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