Bread prices to remain unchanged as RBZ promises to settle $43m owed to foreign suppliers

The Reserve Bank of Zimbabwe has reached an agreement with millers to prevent a looming increase in bread prices. The central bank has undertaken to settle all outstanding payments to foreign suppliers of wheat. This amounts to $43,25 million.

Grain Millers Association of Zimbabwe chairman Tafadzwa Musarara said:

The milling industry wishes to advise that supply of flour and by extension supply of bread — will remain more than adequate and consumers must not be worried. Secondly, prices of bread will not go up on account of costs of flour

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Through their two associations namely GMAZ and the National Bakers Association of Zimbabwe, millers and bakers are jointly in negotiations with the central bank seeking an immediate availing of foreign currency to settle all outstanding wheat imports payments. We are confident this will be settled in the next few days.

More: Herald


Reserve Bank of ZimbabweTafadzwa Musarara

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

Tafadzwa Musarara is a Zimbabwean entrepreneur and a member of the empowerment lobby group, Affirmative Action Group. He is the current national chairman of the Grain Millers Association of Zimbabwe. Read More About Tafadzwa Musarara

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Bread prices to remain unchanged as RBZ promises to settle $43m owed to foreign suppliers