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A LOCAL unit of Mediterranean Shipping Company, the world second largest shipping firm, may stop releasing containers to Zimbabwean importers who have not paid for their services and to discourage the acceptance of cargo destined for Zimbabwe aboard its ships worldwide, the company has said.
Long-suffering Zimbabweans should brace themselves for more price hikes and shortages of basic goods, after stressed companies said that they were left with an average of about 10 days’ worth of supplies of raw materials used in the manufacturing of key products.
President Emmerson Mnangagwa’s under-fire government on Wednesday held an emergency meeting over the country’s worsening fuel crisis.
Confederation of Zimbabwe Industries (CZI) has said the lift of a ban on the import of basic goods and foodstuffs must not go beyond December 21.
Zimbabwe’s fragile economy continued to implode yesterday as several companies temporarily shut down at a time prices of basic commodities continue to rise exponentially due to lack of foreign currency.
Economists have welcomed both President Emmerson Mnangagwa and new Finance minister Mthuli Ncube’s move to rule out the immediate return of the decommissioned Zimbabwe dollar.
Government should get rid of illegal vendors selling fake and expired commodities on the streets, players in industry have said.This comes amid reports of perished and fake products flooding the country.
As the country hurtles towards the watershed national elections, struggling companies are warning of steep price increases and debilitating shortages of basic goods due to Zimbabwe’s worsening foreign currency squeeze.
Zimbabwe’s largest business lobby group, the Confederation of Zimbabwe Industries (CZI), is pressing government to clear 40 of its members who were “wrongly” listed as money externalisers by President Emmerson Mnangagwa.
Most businesses that produce or import basic products are struggling to obtain foreign currency under the Reserve Bank of Zimbabwe priority list, forcing importers to resort to parallel markets, where they get it at steep premiums, now driving the spate of price increases.