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The president of Employers Confederation of Zimbabwe (Emcoz), Demos Mbauya, stated that companies must adapt in order to survive the tough environment.
The matter was triggered by a court judgment delivered by Justice Moya-Matshanga in the DGL Investments Number 5 Private Limited v Martin & 14 Others LC/MT/70/23 case.
“In essence, the budget is hinged on brutal taxation of the people,” she said in a speech read on her behalf by Kudakwashe Munengiwa, the union’s deputy secretary general.
Zimbabwe’s industries have been battling currency volatility, high inflation, prolonged power cuts and escalating costs, which have been compounded by over-policing.
The business indaba comes shortly after business and labour recently signed a memorandum for the establishment of a bipartite social contract amid concerns.