The 2000–2008 Economic Crisis in Zimbabwe

Status and Survival Strategies of Business Survivors in Rural Areas

  • Takupiwa Nyanga Department of Human Resource Management, Julius Nyerere School of Social Sciences, Great Zimbabwe University, Zimbabwe
Keywords: Business survivors, Economic crisis, Entrepreneurs, Operations, Survival strategies


Between 2000 and 2008, Zimbabwe was hit by one of the devastating economic situations which threatened the lives of businesses and also led to the closure of several businesses. The main purpose of this paper was to trace the survivors of Zimbabwe’s 2000-2008 economic distress and establish the strategies they employ to avert future economic pandemics in the country. A mixed research approach was utilised to carry out the study, with data being collected from a sample of 105 business people and their employees in rural Zimbabwe. A self-designed questionnaire and interview guide were used to solicit data from participants with descriptive and thematic analysis data analysis methods being utilised as data analysis tools. The study revealed that while a significant number of businesses closed their businesses due to the economic downturn some survived and self-rejuvenated and moved on in 2009 when the economy stabilised. The strategies most businesses in rural areas employ to avert effects of future economic distress include among others; 1) diversification, 2) trading in foreign currency, 3) avoiding selling goods on credit, and 4) keeping savings in USD and traditional banks. It was recommended that businesses in rural areas need to manage their businesses in a more professional way so that they do not easily get affected by socio-economic shocks and political upheavals.


Download data is not yet available.

Author Biography

Takupiwa Nyanga, Department of Human Resource Management, Julius Nyerere School of Social Sciences, Great Zimbabwe University, Zimbabwe

Nyanga Takupiwa is a lecturer at the Department of Human Resource Management, Julius Nyerere School of Social Sciences, Great Zimbabwe University, Zimbabwe. His research interest is Human Resource Management. 


Al-Manasrah, E.A. (2020). The impact role of dynamic capabilities in enhancing the performance of family business quantitative evidence from the Jordanian construction industry sector. Academy of Strategic Management Journal, 19(3), 1-10.

Clemens, M., & Moss, T.J. (2005). Costs and Causes of Zimbabwe’s Crisis. Centre for Global Development. Available from: [Last accessed on 2023 Jun 10].

Darwish, S., Gomes, A., & Bunagan, V. (2020). Family businesses (FBS) in Gulf cooperation council (GCC): Review and strategic insights. Academy of Strategic Management Journal, 19(3), 20-29.

Dekker, M. (2009). Livelihoods and Economic Crisis: The Case of Smallholder Farmers in Zimbabwe (1999-2008). In: Economic Development in Africa Conference. England: Centre for the Study of African Economies, University of Oxford Press.

Hanke, S.H., & Kwok, A. (2009). On the measurement of Zimbabwe’s hyperinflation. Cato Journal, 29(2), 353-364. Available from: http;//

Hooghe, M., & Okolikj, M. (2020). The long-term effects of the economic crisis on political trust in Europe: Is there a negativity bias in the relation between economic performance and political support? Comparative European Politics, 18, 879-898.

International Monetary Fund IMF. (2008). Regional Economic Outlook in Sub-Saharan Africa. Washington, DC: IMF.

Kowalski, T.H.P., Loretto, W., & Redman, T. (2015). Well-being and HRM in the changing workplace. The International Journal of Human Resource Management, 26, 123-126.

Mudzingiri, C. (2014). The impact and lessons of the 2008 global financial crisis to Zimbabwe. Mediterranean Journal of Social Sciences, 5, 333-339.

Mundia, L., Mahalle, S., Matzin, R., Nasir Zakaria, G.A.N., Abdullah, N.Z.M., & Abdul Latif, S.N.A. (2017). Prediction of employer-employee relationships from sociodemographic variables and social values in Brunei public and private sector workers. Psychology Research and Behavior Management, 10, 257-269.

Murigo, D. The Impact of the Economic Crisis in Zimbabwe, 2000-2008/9. Economic History. Available from: [Last accessed on 2023 Jun 10].

Mutsau, S., & Billiat, E. (2017). Pathways to emergency and disaster counselling in Zimbabwe. Journal of Resources Development and Management, 13, 99-105.

Navare, S. (2008). Counseling at Workplace; a Proactive Human Resource Initiative. India: Drishti Human Resource Centre.

Nyanga, T. (2019). Employer/employee relationship management: Promoting organisational survival and growth during the 2000-2008 economic distress in Zimbabwe. Amity Global Business Review, 9(2), 48-60.

Nyanga, T. (2020). Impediments to corporate entrepreneurship. Ushus Journal of Business Management, 19(1), 1-14.

Nyanga, T., & Zirima, H. (2020). Reactions of small to medium enterprises in Masvingo, Zimbabwe to COVID 19: Implications on productivity. Business Excellence and Management, 10(2), 39-47.

Nyanga, T., Mpala, C., & Chifamba, E. (2012). Brain drain: Implications for sustainable development in Zimbabwe. Journal of Sustainable Development in Africa, 14(8), 141-153.

Nyanga, T., Sibanda, R., & Kruger J.W. (2018). Financial growth and stability in armed conflict society: Does job satisfaction play a role? Amity Journal of Management Research, (1), 27-39.

Nyanga, T., Sibanda, R., & Kruger, J.W. (2019). Destruction of economic infrastructure by armed conflict: implications on job satisfaction among workers in Juba, South Sudan. Amity Journal of Economics, 4(2), 39-54.

Nyanga, T., Sibanda, R., & Kruger, J.W. (2020). Obstructions to job satisfaction: Voices of small to medium enterprise employees in the manufacturing industry in Zimbabwe. Business Excellence and Management, 10(1), 69-74.

Shoniwa, G.N.K., Zirima, H., Nyanga, T., & Dhlomo, T. (2013). Voluntary slavery or motivation: An analysis of factors that motivates Shabanie mine workers to stay in unpaid employment. International Journal of Humanities and Social Sciences, 3(2), 89-101.

Zirima, H., Nyanga, T., Mupani, H., Chifamba, E., & Mshavira, N. (2013). Survival of the vulnerable: Strategies employed by small to medium enterprises in Zimbabwe to survive an economic crisis. Journal of Sustainable Development in Africa, 15(6), 8-19.

How to Cite
Nyanga, T. (2024). The 2000–2008 Economic Crisis in Zimbabwe. Cihan University-Erbil Journal of Humanities and Social Sciences, 8(1), 107-114.