Minister Urges Property Owners To Reduce Rentals
The Minister of State for Bulawayo Provincial Affairs and Devolution, Judith Ncube, has urged property owners to consider reducing their rentals which are deemed too high and unaffordable by Micro, Small and Medium Enterprises (MSMEs).
Ncube said the high rentals have resulted in the closure of a number of premises as most businesses were leaving Bulawayo’s Central Business District (CBD).
Officially opening Ngamla Supermarket at Nkulumane Shopping Mall recently, Ncube said:
These premises are too expensive and a lot of shops have been closed as people move out due to high rentals.
As Old Mutual, you should consider reviewing your rentals here (Nkulumane Shopping Mall) and create a user-friendly atmosphere as you can see most of the shops are vacant.
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You would find major supermarkets, pharmacies and banks, hence people did not need to go all the way into the CBD from their residential areas.
However, currently, it is a different story altogether as most of the facilities are all closed up and can now be accessed in the CBD.
A recent snap survey conducted by The Sunday News established that rentals for shop space in the CBD cost from US$150 for those who share and US$200 for small spaces.
Some charge rentals of at least US$1 000 depending on the size of the space and where it’s located. | The Sunday News