14 September 2018

Zimbabwe: Toughening Times for Locals As Bread Price Goes Up

Photo: Capital FM
(file photo).

TOP food processor Innscor Africa Limited Thursday announced a 10% increase in its bread prices beginning this coming weekend as signs of a tough life for Zimbabweans begin to show under a new Emmerson Mnangagwa led government.

This was revealed in a company notice to distributors under its bread making Bakers Inn unit by company Sales and Marketing Executive Caleb Musodza.

"This letter serves to inform you that the price list for Innscor Africa Bread Company Zimbabwe (Pvt) Ltd t/a Bakers Inn bread effective Saturday 15 September 2018 will be as follows: standard loaf all variants wholesale delivered $1, recommended retail price $1.10," read the notice.

The Grain Millers Association of Zimbabwe (GMAZ) has sounded the alarm over dwindling stocks of wheat arguing the Reserve Bank of Zimbabwe has failed to avail enough foreign currency for the importation of the grain.

GMAZ chair, Tafadzwa Musarara told the media Thursday the grain milling industry is currently saddled with a US$87 million foreign debt to wheat, rice and salt suppliers.

The looming bread increase is likely to spotlight on the new Zanu PF administration's capabilities to relieve crisis-weary Zimbabweans of the hardships they have endured since the economy went on a spiral under former President Robert Mugabe at the turn of the century.

MDC leader Nelson Chamisa, who vehemently disputes his controversial defeat to Mnangagwa July 30, has dared his Zanu PF opponent to rule the country without his blessings, insisting the country's administration does not enjoy any confidence from business and ordinary locals.

"There would be an economic hara-kiri right now if there was no political rape on July 30. Rape has consequences and this failing economy is what we are now suffering from," he said.

Chamisa added, "The economy is freezing and even fuel is in short supply. What is more in short supply is market confidence. Business is not settled because elections were tampered with. You can change statistics of elections, but you cannot tamper with figures in economics."

Apart from price increases, continued hardships have manifested in the cash crunch which remains critical in the country, nearly six weeks since Zanu PF won the election.

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