Categories: Stories

You are lucky this is not China, Mnangagwa warns businesses overcharging

President Emmerson Mnangagwa yesterday asked business players to play fair saying that they were lucky this was not China otherwise some would have been executed for overcharging.

According to the Chronicle, Mnangagwa said this in response to comments by Finance Secretary George Guvamatanga who lamented that some private players were milking poor consumers by charging exorbitant prices.

Guvamatanga said some hotel operators were charging the equivalent of up to US$600 for accommodation and meals per day, while flights were going for the equivalent of US$1 500.

“This is not acceptable and it has to stop Your Excellency,” Guvamatanga said at the Zimbabwe Economic Development Conference at the resort town of Victoria Falls.

“Your statement was loud and clear and we shouldn’t be having people doing this in our society. We don’t want our society as a nation to be constituted by such characters,” Mnangagwa is said to have responded.

“We have a duty as citizens of our nation to play fair and be remembered for building our country and not destroying it.

“It’s unfortunate that what he said is happening in Zimbabwe, if he said it in China we’ll be having candidates for execution. But in Zimbabwe I as the President don’t want death penalty and we need to find other means of punishment.”

Zimbabwe currently has at least six exchange rates. These are the:

  1. Auction rate
  2. The interbank rate
  3. The gold coin rate
  4. The cash rate
  5. The mobile money rate
  6. The swipe or zipit rate

(234 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

View Comments

  • It might as well be, Ed! Remember the murders of all those people, by the 5th Brigade? That was all on YOUR WATCH! You're murderous and don't give a damn about anything except holding onto power, through vote rigging and stupids like chamisa, who is little different in that respect. No wonder you allowed him to keep at least his seat. Probably rigged that result as well, for all I know, or care now. I've left, and no longer have to put up with murderers like you and the 5th Brigade, or stupids like your buddy chamisa! His hissy fit ensured you didn't have to rig the election as much as you first thought

Recent Posts

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024