Published: 20 October 2025

The relative macroeconomic stability that has prevailed since the introduction of the Zimbabwe Gold (ZiG) currency in April 2024 has boosted business confidence, enabling companies to plan better, set consistent prices, and expand investments.

Listed firms on both the Zimbabwe Stock Exchange (ZSE) and the US dollar-denominated Victoria Falls Stock Exchange (VFEX) have reported improved operating conditions, with many highlighting the benefits of currency stability on performance and strategic planning.

Innscor Africa Limited chairperson Addington Chinake said the stability achieved under the new monetary framework had significantly improved the business environment. "The relative stability that has prevailed since September 2024 has improved business sentiment, allowed for more consistent pricing strategies, and enabled better planning across the portfolio," he said in a statement accompanying the company's financials for the year ended June 30, 2025.

He added that the group remained optimistic the stability would continue, as this was "critical in fostering investment and long-term industry growth."

Innscor Africa, a diversified light manufacturing group, reported a 19,4 percent revenue increase to US$1,08 billion - surpassing the US$1 billion mark for the first time since its 2015 restructuring. With major investments recently completed, Chinake said the company would now focus on optimising production efficiencies and achieving targeted financial returns.

In its latest economic outlook report, FBC Securities noted that resilient sectors such as tourism, construction, and mining are leading the country's economic recovery, buoyed by currency stability and improved investor confidence.

National Tyre Services (NTS), another ZSE-listed company, also expressed optimism about the continued steadiness of the ZiG. NTS chairperson Rutenhuro Moyo said the new currency had brought "pricing clarity and predictability" to business operations.

"We anticipate increased tyre demand driven by the ongoing government infrastructure projects, including road rehabilitation works, particularly in the commercial and transport sectors. The proposed measures to curb smuggling of goods, including tyres, will promote fair competition and support formal businesses," Moyo said in the company's financial report for the year ending March 31, 2025.

He added that the company expected improved performance in the second half of the financial year, supported by growing customer demand for new tyre brands and anticipated stability in electricity supply from the Kariba hydroelectric plant. "Improved rainfall forecasts and a recovering agriculture sector also point to stronger demand for agriculture tyres," he noted.

According to the Zimbabwe National Statistics Agency's second-quarter business tendency survey, most respondents in the manufacturing sector remain optimistic about the overall business climate.

The International Monetary Fund (IMF) also acknowledged Zimbabwe's recent progress in stabilising its economy. In its latest Article IV consultation report, the IMF said tighter fiscal and monetary policies had helped contain inflation and exchange rate volatility.

"After facing significant macroeconomic volatility in recent decades, Zimbabwe has recently experienced a degree of stability, thanks to tighter policies. The halting of quasi-fiscal operations and monetary financing by the central bank have helped significantly reduce inflation and exchange rate pressures," the IMF stated.

The Fund added that economic growth had rebounded as extreme weather shocks subsided and trade conditions improved.

Economist Walter Mapfumo said predictable policies were key to sustaining growth and attracting foreign investment. "Investing in infrastructure, such as power generation and transportation, can help reduce costs and improve competitiveness for businesses," he said, adding that diversifying into manufacturing and tourism would further strengthen the economy and reduce reliance on a few key sectors.

As the ZiG continues to anchor stability, analysts say maintaining sound fiscal management and policy consistency will be essential to preserving business confidence and sustaining economic momentum.
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