these developments, alleging that volumes had fallen drastically over the past few months and the sector is operating at frightening levels.
Musariri says the main cause of the decline is the unavailability of foreign currency caused by the low exchange rate.
“Business is currently very low and most of our members are operating at below 30%, and official exchange is not favourable for foreign currency generation. Foreign currency is the backbone of freight industry and, with unavailability, it’s really a disaster,” said Musariri.
He put the blame for the foreign currency shortage on the governor of the Reserve Bank of Zimbabwe, Gideon Gono. – Business reporter
Post published in: News