Govt Decision To Lift Import Ban Will Be More Catastrophic To The Economy- Cross Border Traders

Speaking to 263Chat, Zimbabwe Cross-border Traders Association (ZCBTA) chairperson Killer Zivhu said  the recent government move to lift an earlier ban on importation of basic commodities will have a negative impact.

He said the new measure will result in a rise in parallel foreign currency rates and prices since everyone will be able to import goods on their own. Zivhu said in the long term the measure will have more catastrophic disadvantages than advantages to the economy. Said Zivhu:

As cross border traders, we feel that there are more measures that should be taken in order to avoid the flooding of goods because now if it is a 50/50 situation, there is going to be an increase and the demand of Forex is going to be high hence. The rates are going to increase anytime from now since everyone wants to go out to buy things on their own and the prices are going to increase because no-one will want to trade in bond notes after getting money on the streets. So whoever is going to do business will be demanding forex and that is going to affect the majority who are getting their salaries in bond notes or transfers.

More: 263Chat


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Bond Notes

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

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5 comments on “Govt Decision To Lift Import Ban Will Be More Catastrophic To The Economy- Cross Border Traders

  1. Unfortunately for Mr. Zivhu,the opposite is going to happen. You cant hide cooking oil now kana boarder ravhurwa,inoora.Traders will get small profit margin, owing to competition. They will sell their goods neBond,vozotenga Rands pa Black market. I bet you that the rate will not be what it is now.

  2. Is not this the Killer Zivhu who opposed the ban when it was introduced. Is he not the guy who was in prison for some shoddy deals.
    Where does he think people will find food and how will the people satisfy their daily needs when there is not even enough milk in the country.
    He only wants to protect his source of income no care about economy or others.
    Let’s rebuilt the country on full stomachs

  3. Mr Zivhu .. I think sometimes you need to be senstive to the plight of most of you.Dont be motivated ny money all times.
    Govt did the best ever
    Our business person are very gpod at hidding commodities to create artifical shortage
    This will push up prizes
    Bravo Gvt

  4. Agree with the above comments. Not everyone wants to make large profits – they just want to survive. We need access to essentials at reasonable prices. I bought 2 litres cooking oil in small shop in Botswana yesterday for the equivalent of $2.80. Do the maths and go figure! The unscrupulous traders charging $10 odd for 2 litres are the ones driving the black market rates up, not us.

  5. Mr Zivhu, go hang. You want to protect the cross boarder traders and the greedie manufacturers. Work up and smell the coffie. I agree with anonymous. There is going to be a fall on the foreign currency rate.

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