Buy Zimbabwe has called on the government to urgently intervene in addressing the country’s distorted exchange rate, which it says poses a serious threat to retailers and the overall performance of Zimbabwean products in the market.
Munyaradzi Hwengwere, chairman of Buy Zimbabwe, expressed concern over the deteriorating national exchange rate, emphasizing that when the rate becomes misaligned, it creates significant challenges for businesses and hampers their performance.
“When the exchange rate is distorted, it becomes a thorn in the flesh for businesses, and performance is incurably hindered,” he said.
Hwengwere stressed the need for equilibrium between the exchange rate and prevailing market conditions, stating that Zimbabwe has long known the importance of aligning the exchange rate with market realities.
“At Buy Zimbabwe, it is our hope that the government will urgently intervene to ensure the exchange rate does not continue to deteriorate,” he added.
He also noted that Buy Zimbabwe is dedicated to identifying factors that disrupt the success of locally produced goods and works closely with businesses and the government to address these challenges.
