Goods suppliers demand forex

HARARE - The Confederation of Zimbabwe Retailers (CZR) has said most suppliers have changed their trading terms demanding foreign currency up-front.

CZR president Denford Mutashu said they have been to Midlands and Matabeleland where retail players were reportedly “very bitter” over the decision by suppliers to change trading terms.

“Suppliers are now demanding to be paid in foreign currency, of which the retailers do not have. They even moved from the 30-day term to payment up-front strategy which is crippling the smooth running of retailers,” Mutashu said.

He said the pay up-front strategy by suppliers has made the situation unbearable for retailers as goods they purchase face a delay in delivery as the suppliers are now delivering only upon payment or when the money reflects in the bank account.

The high demand for foreign currency has consequently resulted in unforeseen change in business deals.

Comments (1)

The issue of foreign currency has just become a talk show for the Government, Manufactures and C.Z.R. All these bodies have failed to sort this 3 tier pricing system that has caused more suffering for ordinary citizens of Zimbabwe. Us senior citizen of this country we can not afford to buy drugs from Pharmacies. Today 20 November 2018 at United Bulawayo Hospitals I was given 14 days Nifedipine tablets at a cost of $2.10 (bond) which I paid and was given prescription to buy another 30 days nifedipine from a pharmacy . Plus Two Pharmancy at Robert Mugabe Way and Nine Avenue their Charges were: 5USD or 70 Bond notes or 70 rands. Surely it is the survival of the fittest

Mkha Ndlovu - 20 November 2018

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