RBZ warns greedy retailers
THE Reserve Bank of Zimbabwe (RBZ) says it is highly impressed with how the foreign currency auction has helped stabilise prices and the exchange rate, but expressed strong reservations over… Read more »
Category: Retail
Edgars appoints new CEO
LISTED clothing retail chain, Edgars Stores Limited has appointed a new chief executive officer Ms Tjeludo Ndlovu taking over from Mrs Linda Masterson who has retired. The appointment is with… Read more »
Pricing is more than following the rate
Foreign exchange markets appear to be stabilising, at least by recent Zimbabwean standards, and this stability is in both the auction market, where the rate is rising slightly each week,… Read more »
Retailers Hurt By Ecocash Transaction Limits
The suspension of EcoCash bulk transactions and the restriction of Ecocash transactions by the Reserve Bank of Zimbabwe (RBZ) has resulted in reduced business for retailers, analysts have observed. Last… Read more »
Edcon extends deadline
Edcon’s administrators extended a deadline for offers for the three main divisions of South Africa’s second-largest clothes retailer, whose sales suffered from pandemic restrictions. Binding offers are now expected in… Read more »
Retailers’ Association President Condemns Shops Rejecting Bond Cash
The Confederation of Zimbabwe Retailers (CZR) has condemned retailers and wholesalers that are refusing to accept bond notes and coins to force customers to buy using foreign currency. CZR president… Read more »
Edcon business rescuers ask for 157% increase
Fees charged by liquidators and business rescue practitioners, and theimpact they can have on bottom line payouts to affected employees, came under the spotlight at Monday’s meeting to consider a… Read more »
OK Zimbabwe’s annual profit jumps 1 000pc
The country’s biggest retail group, OK Zimbabwe’s profit for the year to March 31 2020, surged 1 000 percent to $566 million from $49 million recorded in the prior year…. Read more »
Sugar millers threaten to cut supplies to retailers
THE Zimbabwe Sugar Association has threatened to suspend supplies to wholesalers and retailers found hoarding the commodity for speculative purposes. Recently, the sugar industry has received enquiries regarding the supply… Read more »
RBZ Says Shops Must Display USD Prices, Introduces Forex Auction System & Floats Zimbabwe Dollar
The Reserve Bank of Zimbabwe has announced that the fixed USD exchange rate which is currently prevailing will end on June 23, when the country will adopt a forex auction… Read more »