Zimbabwe business representative warns AfCFTA will increase competition, urging local firms to adopt cost competitiveness strategies.

David Munowenyu, a representative of Zimbabwe's business community, cautioned that the African Continental Free Trade Agreement (AfCFTA) will increase competition when it takes effect next year. As 90% of tariffs are set to be eliminated by 2025, he urged local businesses to adopt cost competitiveness strategies to maintain market share against new entrants. Munowenyu emphasized the need for strategic planning to navigate the challenges posed by the influx of foreign investments.

September 20, 2024
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