The Zimbabwe Federation of Entrepreneurs (ZFE) wants the Ministry of Finance and Economic Development to address several challenges facing its members, including the suspension of payments to government contractors.
In a letter dated 24 November 2022, addressed to Finance Secretary George Guvamatanga, ZFE president Bright Mupfapairi said there is a need for “amicable” engagement between Treasury and the business sector. Reads the letter:
<blockquote>
Our members wish to know and are addressed on the government’s position regarding the re-valuation of invoices after the contract has been performed.
They also need clarity on the delays in the payment of re-valued invoices considering that our members would have suffered a loss of income as all payments are in local currency.
Clarity is also sort on the due diligence process by government as we believe there has been a procurement process whereby there are tenders with terms and conditions to be followed hence currently we have noted that there is a drastic shift affecting our members.
Our members also want assurance that since the year will be ending soon will all outstanding payments going to be made as there are various commitments made, also they are concerned about the cost of business and money.
</blockquote>
In August this year, the government suspended payments to its contractors as part of efforts to rescue the depreciating Zimbabwe dollar which was being ravaged by hyperinflation.
Guvamatanga directed government ministries, departments and agencies to suspend the payments.
Treasury accused contractors of submitting invoices of cash for goods and services using parallel market rates.

George Guvamatanga Latest News

Latest Jobs