Retailers Slash Prices After President Mnangagwa’s Threats – Report

Some retailers have reportedly reduced prices following threats by President Emmerson Mnangagwa to come down hard on them and whip them into line.

Simbisa Brands, which runs fast foods outlets such as Chicken Inn, Nando’s and Steers announced a marginal price reduction on some of its products.

Some traders in the informal sector have also lowered prices after abandoning multi-currency pricing which was banned last week.

While addressing a crowd at an event in Manicaland earlier this week, President Mnangagwa warned businesses against profiteering. He said then:

Kana kuna vaya vaya anamuzvina bhizinisi varikuramba vakakwidza mitengo, aiwa varegei vakadaro.

Pindai muma shop evadzikisa mitengo, anenge achidhurisa kwete. Tiri kuvarongera. Yavo shamu irikugadzirwa zvakanaka naka, yaiswa pamushana … mumvura mune munyu.

(If there are businesses that are still charging high prices, ignore them and buy from shops that have lowered their prices.

We have a plan for those that are charging these high prices … we are putting in place measures that will see those businesses being punished accordingly).

The Zimbabwe Republic Police (ZRP) also issued a statement warning traders who are pricing goods and services in foreign currency that the long arm of the law will reach them.

Meanwhile, social media is awash with pictures showing that some businesses have indeed lowered prices. See pictures below:

More: Fin24

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