Zimbabwe President Emmerson Mnangagwa yesterday warned foreign business people that are hoarding basic commodities to create artificial shortages that they will be deported because his government will never tolerate such activities.
Addressing his second national campaign rally in Matebeleland South, Mnangagwa said he had heard that some Indians in Harare were stocking basic goods like sugar and hiking prices and was now investigating this.
“I have been told that some Indians in Harare are stocking basic goods in warehouses, buying sugar yakawanda kunana Chiredzi so all the basic things they are stocking in warehouses and increase prices,” he said according to a transcript of his speech published by the Sunday Mail.
“Let me warn them, I am having people investigating the warehouses and if it is true, we will confiscate not only the warehouse but the things inside and give it to you and distribute them. If they want to hoard, they should do it in their country not in Zimbabwe. Our government will never tolerate such activities in independent Zimbabwe.”
Zimbabwe has witnessed a massive increase in prices since Mnangagwa announced the date for the country’s next elections scheduled for 23 August.
The local currency tumbled at one time reaching $6 926 at the official rate and $10 000 on the black market.
The local currency has since firmed by more than $1 000 dollars and the black market rate has fallen by almost $3 000.
Prices have, however, not yet been adjusted and some economists argue that they will remain where they are though the local currency is stabilising and appreciating against the United States dollar.
(123 VIEWS)
