ZNCC annual conference coincides with new economic measures

By Owen Mandovha

THE new economic measures announced by fiscal and monetary authorities are expected to dominate deliberations at the Zimbabwe National Chamber of Commerce Annual Conference which gets underway this Wednesday.

The resort city of Victoria Falls is set to come alive this Wednesday as captains of industry gather for the Zimbabwe National Chamber of Commerce (ZNCC) Annual Conference.

Newly-elected ZNCC President Mike Kamungeremu says the event comes during a week in which landmark fiscal and monetary measures were announced to enhance macroeconomic stability.

“This is crucial week for business especially as the RBZ and Treasury measures come into effect.  Captains of industry will seek to establish how these will impact on the economy and general business environment,” said Mike Kamungeremu, ZNCC representative.

Kamungeremu added that discussions will also centre on issues affecting the viability of the industrial sector.

“Business is keen on growth and the last two years have been good but we have a situation where a policy position is required which guarantees future business growth,” he said.

Industry and Commerce Minister Dr Sekai Nzenza will be the guest of honour while incoming ZNCC President Mike Kamungeremu will officially take over from incumbent Dr Tinashe Manzungu who served for two terms.

The ZNCC annual indaba comes at a time treasury and the central bank has come up with a cocktail of measures to reduce inflation and stabilise prices while also cushioning public servants through salary adjustments.

The measures are also meant to curb speculative borrowing which has been resulting in inflationary pressures and distorted the exchange rate, derailing economic gains in the process.