RBZ Justifies Bread Price Increase

Speaking to The Herald, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said the increase in the price of bread from 90 cents to $1 is above board. Mangudya said the increase was arrived at following wide consultations across all sectors.

Said Mangudya:

The industry took necessary measures to increase the bread prices as they presented their challenges and justifications to the Industry, Commerce and Enterprise Development Ministry and National Competitive Commission (NCC). And all processes were above board.

However, Grain Millers Association of Zimbabwe (GMAZ) said there was no need for a bread price increase as flour prices have not increased over the past two years.

More: Herald

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John MangudyaReserve Bank of Zimbabwe

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

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

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