Some large supermarket chain brands in Zimbabwe, such as Spar, have begun pricing their products in US Dollars. Messages posted on Twitter by journalist and filmmaker, Hopewell Chin’ono, Sunday afternoon showed at one Spar supermarket in Harare, has started displaying US dollars as the only currency on the products.
The supermarket, however, says it still accepts swipe and other electronic methods of payment but it uses the black market rates (displayed clearly in the shop) to determine the products’ RTGS$ prices.
1. Some of the supermarket chains hev started to “dollarise” whilst accepting RTGS at a very steep rate. In this Spar at Kamfinsa shops, the rate is US$1 to RTGS8. The interbank rate is not working as I predicted so businesses are relying on the parallel market for forex! Reforms pic.twitter.com/V76MnU6Mtn
— Hopewell Chin’ono (@daddyhope) May 26, 2019
3. These price increases can only be denied by mindless sycophants, propaganda spinners for the regime or political opportunists hoping for favors! Zimbabwe needs urgent political reforms that will attract capital. Today it is allowing land confiscations, that kills credibility. pic.twitter.com/O8zLxYUoPy
— Hopewell Chin’ono (@daddyhope) May 26, 2019
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The KAMFINSA Spar is not a big supermarket. Its prices have always been higher than PiCK & pay next door. In fact, Spars are now notorious for their prices. They are feeling the pressure from rent and fees for the franchise. They will fold soon. Customers are not blind. Kkkkkkkki.
many businesses are folding and it’s not a good thing.it has been a Zimbabwean for far too long now.something must be done.Please note:we have the poorest Professors in the region.lol
It has been a Zimbabwean story for far too long