The Zimbabwe Cross Border Traders Association (ZCBTA) has commended efforts by the Minister of Finance and exchange control authorities in curbing the volatile foreign currency exchange rate but called on other Government departments to compliment the move.
Last week monetary authorities met with captains of industry and business to map the way forward on the currency crisis. The exchange rate movement has somewhat slowed down since then.
In a statement, ZCBTA general secretary Augustine Tawanda said the current trends in the retail and wholesale sector cannot continue unabated as it is impacting on ordinary citizens.
“ZCBTA appreciates the efforts by the Minister of Finance and exchange control authorities to tame exchange rate volatility which is being driven by corporate indiscipline, greediness and primitive capital accumulation on the part of commerce.
“This current lawlessness and madness in the retail and wholesale sectors cannot be allowed to continue as it negatively impacts on the lives of ordinary citizens and other vulnerable groups in our society. ZCBTA is concerned that there are no corresponding measures being taken by other relevant ministries to curb this crisis,” said Tawanda
He challenged various government departments to take action and protect various stakeholders in the value chain.
“Given this sad development, there is need for an all hands on deck approach rid we are therefore demanding that: the Ministry of Industry and Commerce should conduct value chain audit on exorbitant mark ups for basic commodities and deploy inspectors to enforce compliance. It should also create a hot line for use by the public in order to stem out this rot in the retail and wholesale sectors and also ensure that there is no major distortion in the price of basic commodities and other locally produced goods country wide.
“The Ministry of Energy should take robust action against fuel dealers who access forex from the RBZ at bank rate but continue to sell fuel in USD. The Ministry of Agriculture should protect the agro based value chain by preventing fertilizer manufacturers from demanding payment in USD indexed at parallel market rate when Farmers were paid for their produce in RTGS pegged at the official rate,”
He added “In view of this scenario, the ZCBTA is imploring His Excellency President ED Mnangagwa to ensure that those entrusted to protect the public are seen to take corrective measures as a matter of urgency and we are also urging government to open up space for cross border traders to conduct business within the confines of the COVID protocols given that over 300000 cross border traders have lost, sources of livelihoods because of the deadly COVID- 19 pandemic.”
