Zimbabwe Business Watch : Week 33
Business continues to battle for survival amidst the chaotic Price Control regime imposed by government with the flawed belief that they can control inflation. There may be a more sinister objective in trying to force companies to consider selling to politically connected interests. Already a strange group has surfaced and letters are being sent to various companies expressing an interest in buying shares in Zim companies. They claim to represent SA business but the address is Morningside, Bulawayo.
Various industry groups are negotiating with Ministry to have prices reviewed and bread will go up by a mere ZD 4000 per loaf still leaving the baker in a massive loss position. It is now rumoured that beer production has stopped and frantic discussions are taking place. Furthermore it seems that the price of cement will be allowed to rise by a significant margin. The stock exchange continues to suffer losses.
