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Car import ban costs Zimra $3bn
BY REX MPHISA
ZIMBABWE lost more than $3 billion in potential revenue in April alone following its ban on imports of vehicles that are older than 10 years.
The number of vehicles imported has dropped steeply by between 2 000 and 3 000 per month. The drop also has ripple effect in the motor and downstream industries, with hundreds of Zimbabweans rendered jobless.
On April 2 this year, Zimbabwe effected Statutory Instrument 89/2021 which banned all imports of mostly pre-owned cars that are 10 years and older.
Figures of car imports dropped steeply from 4 776,4 153, 5 100 in January, February and March, respectively, to 2 034 in April when the new law came into effect.
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