Bulawayo Companies Shutting Down As Economic Woes Intensify - Report

Firms in Bulawayo are reportedly closing down leaving thousands of workers stranded, Zimbabwe Congress of Trade Unions (ZCTU) has warned the government, The Standard reports.

ZCTU Western Region’s Ambrose Sibindi spoke to the publication and said:

Things are very bad for the Bulawayo industry, not much production is taking place.

The few companies that are operating have scaled down and some have reduced the number of working hours. In some cases this is due to fuel shortages especially in the transport industry.

In terms of renumeration, workers are paid far below the poverty datum line with most of them getting a paltry $1 300 per month.

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Generally the future is very bleak in terms of improved operations and production.

Companies are scaling down operations and they are reducing the workforce, which is raising the rate of unemployment and bringing more misery to most residents

The economy has continued to take a nosedive since the turn of the new dispensation’s turn on the reign in August 2018.

More: The Standard