CCZ sounds warning bells

The Consumer Council of Zimbabwe is warning consumers against overspending during the festive season.

CCZ president, Rosemary Siyachitema, has urged consumers to buy wisely during the Christmas and New Year holiday to avoid the embarrassment and bankruptcy that can result.

“As the consumer watchdog, CCZ is warning the general public against impulse buying. It is best to come up with an expenditure budget now to avoid inadvertent overspending,” said Siyachitema.

She warned shoppers that retailers had a habit of increasing their prices ahead of the festive season.

“We have warned the shop owners against inflating the prices of groceries. Business owners should rather capitalize on the increased numbers of consumers during the festive season to increase their stock. They must work hard to make sure they do not create artificial shortages of groceries to avoid the hoarding that characterized the hyperinflationary environment before the use of multiple currencies.”

Siyachitema went on to remind parents that school fees would have to be paid in January.

“We do not want consumers to take loans in the month of January from loan sharks who charge exorbitant interest rates, so people must spend wisely during the holidays,” she said.

The price of basic commodities has risen in the recent past. In 2009 and 2010, a bar of soap cost $1, now the same is going for $1.40. Cooking oil was $3 but now costs $4 in most supermarkets around Harare. Meat was $3/kg but now it costs around $5 in most butchers.

Post published in: Business

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