Home Economy Mnangagwa surprised by increasing prices

Mnangagwa surprised by increasing prices


This Monday Emmerson Mnangagwa addressed his speech to traditional leaders in Kadoma.

The prices of goods and services in Zimbabwe have gone up by three times in the past two months, owing to the fall of the local bonds against a more stable US dollar.

Mnangagwa sincerely wondered why with the help of the central bank and foreign currency, some businesses still went ahead for price increases. According to him, they need to charge using Zimbabwean bonds.

“We were surprised to wake up one morning to an outrageous increment of a 50kg back of maize seed from $30 to $100,” he said.

Finance Minister Mthuli Ncube’s is also blamed for rising prices and unpopular introduction of a 2 percent tax on all electronic transfers in Zimbabwe.

Later the president said that a few weeks ago he met with some business leaders at State House over the matter and they pledged to rectify the situation.

Also in his speech Emmerson Mnangagwa appealed to the conscience of local business people in the interest of the suffering masses. He called on businessmen to be more humane and not to burden citizens with high prices.

The president also raised another question to pharmacy owners. The President said it was unjustified for them to charge in US dollars whilst they were not paying their workers in hard currency.

“I met with pharmacy owners and had to ask them if they are paying their workers in US dollars considering that they are charging in Trump’s currency,” –  Mnangagwa added.

The President noted that the owners of pharmacies had no right to do such things. It was when they were reminded of it and threatened to be deprived of the licenses that they went to meet the workers and accepted bonds and Real Time Gross Settlements (RTGS).


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