Story by Yolanda Moyo
THE Competition and Tariff Commission (CTC) has been instrumental in facilitating mergers and acquisitions in Zimbabwe, with a total of 12 mergers being approved this year.
The commission approved mergers spanning various sectors of the economy, including manufacturing, mining, retail, and services, contributing to the country’s economic growth.
In an interview with the ZBC News in Bulawayo this Thursday, CTC’s Assistant Director – Mergers and Acquisitions Mr Tatenda Zengeni emphasised the importance of the mergers in shaping Zimbabwe’s economic landscape.
“This year so far we have assessed 12 mergers in different sectors such as mining, finance, services and retail. The 12 mergers approved this year demonstrate a clear trend towards strategic partnerships and consolidation within Zimbabwe’s corporate sector. These deals not only unlock synergies but also position businesses to compete effectively on both domestic and international fronts,” he said.
The CTC’s proactive approach to reviewing and approving mergers has contributed to a positive investment outlook for Zimbabwe.
“What is key to note is the upward trajectory of local investors investing in Zimbabwe and this shows how the industry is showing confidence in the growth of this economic landscape. 61 percent of the mergers are local investors or companies merging into one entity and 39 are from foreign investors,” noted Mr Zengeni.
The mergers are poised to reshape various sectors of the economy, fostering innovation, competition and economic growth.
“Our role is to assess mergers against these principles to ensure they benefit consumers, businesses, and the economy as a whole. By fostering a competitive environment, we aim to stimulate innovation, drive efficiency, and ultimately contribute to Zimbabwe’s economic growth,” CTC Chairperson Dr Priscilla Mujuru said.
As Zimbabwe continues to embrace economic reforms and create a conducive business environment, the CTC’s proactive approach to mergers will remain instrumental in driving the country’s economic development.
