Zimbabwean company stops banana exports to South Africa because of declining rand


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A Zimbabwean company has stopped exporting bananas to South Africa because of the declining rand which has seen the price plunging from 23 US cents a kg to 13 US cents.

The project manager of Matanuska Private Limited Johannes Makurumidze told NewZimbabwe.Com said his company had stopped selling bananas to South Africa because this was no longer viable.

“We are no longer exporting bananas to South Africa because of the deflation of the South African rand. The price of bananas has declined because rand value is declining. We are finding it difficult to sell bananas there,” he said.

The South rand is currently about 7 US cents.

(90 VIEWS)

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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.

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