Dollars boost business

dollarsTAMANDAI - The business community here has welcomed the dollarization of the economy saying it created an enabling business environment, but have expressed grave concern over the accessibility of foreign currency.

In a survey carried out by The Zimbabwean last week, most consumers said food supplies in various shops and supermarkets had improved when compared to the previous years.

The survey also revealed that most shops were adequately stocked with basic commodities, but only a few were buying the commodities because many were not readily accessing the US dollars and the Rand.

A proportional analysis indicated that most prices were within the same range, with most of the prices going down as a result of stiff competition and high influx of such commodities.

A loaf of bread is going for US$0.50 (5 Rand) a 300ml bottle of soft drink was being sold for US$0.50 (5 Rand) Mazowe Orange Crush is costing $2.90 (29 Rand) whilst a kilogram of economy beef is going for about US$4.00 (40 Rand).

The majority of the ordinary consumers said although the prices on the market have stabilized, foreign currency was elusive.

George Chitore, a consumer, said: Those who are directly employed by government and private companies here are the beneficiaries of this system. Many farm workers are struggling to contain the foreign currency. Those employed by the new farmers are being paid with groceries and not liquid cash.

A business owner, Tendai Musikavanhu, said: Very few people have foreign currency. During the days of diamond dealing foreign currency used to be readily available, but since it stopped, it has been hard to do business.

However, he said the adoption of foreign currency was long overdue, adding that as business people they could finally plan ahead.

Post published in: Economy

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