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RBZ, Business Leaders Fail To Reach Consensus On Pricing

RBZ, Business Leaders Fail To Reach Consensus On Pricing

Business leaders said they failed to reach a consensus with the Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) when the two parties met on Tuesday last week.

Confederation of Zimbabwe Industries (CZI) president, Kurai Matsheza, told Business Weekly that there was no consensus on two major issues that were on the agenda.

FIU wanted to know why businesses getting foreign currency from the auction system are pricing their products at rates above the auction rate.

The other issue that was discussed was the selling of some products exclusively in USD terms by some companies, in particular retailers and wholesalers.

Matsheza said while there was no consensus on the issues on the agenda, there was mutual agreement that the economy is in a difficult situation. He said:

. . . we met the RBZ unit, the FIU . . . we discussed and they told us the concerns they had. They had two concerns.

But there was no consensus; the only agreed concern is that we are in a difficult situation as a country.

He said the CZI highlighted that even if some members are receiving money from the auction, they are getting only 32 per cent of their requirements.

Moreover, a backlog on the auction is forcing companies to also try and raise USD on the domestic market so that they can supplement their USD requirement to continue operating.

The meeting between the FIU and business was attended by manufacturers, suppliers, retailers, wholesalers, and many other representatives including the Grain Millers Association of Zimbabwe (GMAZ), Zimbabwe National Chamber of Commerce (ZNCC) and the CZI.

FIU director, Oliver Chaperesa, said the main agenda of the meeting was to address issues of price and goods that are exclusively sold in USD terms.

He said it is unacceptable because there are consumers who earn only Zimbabwe dollars, therefore, there should be an option for everyone. Said Chaperesa:

We listened to what they had to say. But we then agreed that they should not be charging USD exclusively for goods and this was agreed on.

More: Business Weekly

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12 Comments

MAPERERWA 2 weeks ago

ZVARAMBA


Machiavelli 2 weeks ago

Even the post-meeting statements show no meeting of minds. Back to square 1


Chamisa 2 weeks ago

☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️


Gafa 2 weeks ago

FIU sungai Mangundya naMthuli ndovari kuita zve black market wwhy bringing so many currences but paying workers rtgs salary cushion ndomari inotenga 175 thus nonsense


Oskid 2 weeks ago

@Gafa gore rinouya vachadzidza kuterera kana bmvachiudziwa varihwa white wash neCCC


youth 2 weeks ago

hapana ane zano racho saka ?


Sekuru Dhambi 2 weeks ago

igaro ziva kuti zanu haina zano

Chaminuka 2 weeks ago

Tisvikewo pano vazukuru pa pidurra .Aaaa monetsekana nei ???Nguva yakwana ukaona zvinhu zvomira saizvi zvakatopera .Uyo unotaurisa vazukuru havachazevipo futi mwaka unotevera wakatama neuno .Batai izwi rangu vazukuru .Asi ndinowona ropa pamberi Apo ndapedza hangu vazukuru .


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the Zebra 2 weeks ago

Too much economic experiments for Zimbabweans


XXX 2 weeks ago

Why wasting time with RBZ , just visit the Governors shops and see the reality on the ground. Parnmart Supermarkets. Kwete kupedzerwa nguva nezvimameeting zvisina shumo.


mai dudu 2 weeks ago

thank you pindula for the new version.
dai pama comnents mabvisa avo vanotaura vulgar.e want to keep our news clean.o to ,tribalism n hate speech.e one.



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