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<p>Supermarkets in Zimbabwe are struggling to survive as the volatility of the new currency pushes prices up, leading shoppers to opt for cheaper informal markets that appear at night to avoid authorities.</p>
<p>These temporary shops, which pop up on sidewalks, store verandas, and car parking spaces, offer a wide range of goods, including groceries, fresh meat, electronics, clothes, medicines, fashion accessories, and stationery.</p>
<p>These vendors do not face expenses such as rising energy costs, taxes, or laws that force formal retailers to accept the local currency at artificially low official exchange rates.</p>
<p>As a result, they can offer bargains. For example, a box of juice that sells for $3 in a supermarket costs half of that on the street.</p>
<p>Batsirai Pabwe told the <strong>Associated Press</strong> that he enjoyed shopping on the streets after managing to fill a plastic bag with items for just $20.</p>
<p>For the same amount in a supermarket a week ago, he said he could only get “meat and spices, and they were not even that much.”</p>
<p>In April, Zimbabwe introduced a new gold-backed currency called ZiG (short for Zimbabwe Gold) to replace one that had depreciated and was often outright rejected by the people.</p>
<p>This is the country’s sixth attempt at a new currency since the 2009 collapse of the Zimbabwe dollar and the adoption of the U.S. dollar as legal tender amid hyperinflation.</p>
<p>The U.S. dollar has remained legal tender alongside successive local currencies. The latest currency, introduced with much pomp and fanfare, included promotional jingles and songs played on public radio, television, and online.</p>
<p>However, seven months on, the ZiG appears to be failing like its predecessors. The gap between official and black market exchange rates continues to widen, with many people and informal traders preferring the more stable dollar.</p>
<p>Traditional stores, required by authorities to charge using the local currency, are increasing prices to stay afloat.</p>
<p>However, they have become uncompetitive compared to unregulated informal markets. The Retailers Association of Zimbabwe warned of potential store closures, describing the situation as “clearly untenable.”</p>
<p>In October, Pick n Pay, one of Africa’s biggest grocery chains that operates more than 70 stores jointly with a local partner in Zimbabwe, said that it had “impaired” its investment in Zimbabwe “to a book value of zero” because of the “deteriorating economic conditions.”</p>
<p>Gift Mugano, an economics professor, said the exchange rate crisis has negatively impacted traditional stores. He said:</p>
<blockquote>
<p>In every transaction business is doing in the formal setup, it’s making an exchange rate loss that cannot be compensated. The major issue here is a currency crisis.</p>
<p>Everything is against their survival. The informal sector works at night, (if there is) no electricity they use their phones, they don’t care. They are there for survival.</p>
</blockquote>
<p>According to official figures and the International Labour Organisation, over 80% of Zimbabwe’s employable population relies on the informal sector for their livelihoods.</p>
<p><strong>More: <a href="https://www.pindula.co.zw/">Pindula News</a></strong></p>


Pindula News

In Zimbabwe, supermarkets are struggling as prices go up. People are turning to temporary night "shops" for cheaper goods to avoid the new currency's problems. These shops offer a wide range of products and are able to offer lower prices because they don't have to deal with many expenses. The new currency, ZiG, is not doing well, and people prefer the stable U.S. dollar. Traditional stores are raising prices but losing customers to informal markets. Many people in Zimbabwe rely on the informal sector for their income.

Temporary Night "Shops" Take Over Zimbabwe's Retail Sector

<p>Vice President Kembo Mohadi said yesterday that government will provide loans to retailers who maintain cheap prices. Zimbabwe is currently undergoing a currency crisis which has driven prices of basic goods up.</p>
<p>The government has been fighting the price increases, instructing retailers to reduce prices as well as finding ways to incentivise businesses to not raise prices.</p>
<p>Mohadi was yesterday speaking at a Zanu-PF “Thank-you” rally which President Mnangagwa failed to attend.</p>
<p>Said Mohadi:</p>
<blockquote><p>Basic commodities like cooking oil, sugar, salt, rice mealie-meal, milk and flour; the prices are being looked into so that they become affordable to the generality of the public.</p>
<p>Government is equally putting in place loan facilities for retailers who will maintain cheap prices. These will be supported by Government to make sure that their prices remain low.</p>
<p>As Government, we are engaged with industry for a more stable price regime. We are seized with this matter. We are a Government that is responsive to the people’s needs.</p>
<p>We are concerned with overcharging of goods and the constant hikes of prices of basic commodities. We understand the struggles that you are facing and we will step in with corrective measures.</p></blockquote>
<h2><strong>Related</strong></h2>
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<h3>Mthuli Ncube Orders All Businesses To Revert To Pre-January 12 Prices, Promises Refund</h3>
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<h3><a href="https://zero.pindula.co.zw/pictures-long-fuel-queues-again/" rel="bookmark">Pictures: Long Fuel Queues… Again</a></h3>
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<h3><a href="https://zero.pindula.co.zw/jonathan-moyo-says-mnangagwas-no-show-for-his-thank-you-rally-shows-something-is-wrong/" rel="bookmark">Jonathan Moyo Says Mnangagwa’s No Show For His ‘Thank You’ Rally Shows Something Is wrong</a></h3>
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<p><em><strong>More: <a href="https://www.sundaymail.co.zw/state-intervenes-on-basic-commodity-prices">Sunday Mail</a></strong></em></p>


Government To Provide Loans To Retailers Maintaining Cheap Prices

<p>Vice President Kembo Mohadi said yesterday that government will provide loans to retailers who maintain cheap prices. Zimbabwe is currently undergoing a currency crisis which has driven prices of basic goods up.</p>
<p>The government has been fighting the price increases, instructing retailers to reduce prices as well as finding ways to incentivise businesses to not raise prices.</p>
<p>Mohadi was yesterday speaking at a Zanu-PF “Thank-you” rally which President Mnangagwa failed to attend.</p>
<p>Said Mohadi:</p>
<blockquote><p>Basic commodities like cooking oil, sugar, salt, rice mealie-meal, milk and flour; the prices are being looked into so that they become affordable to the generality of the public.</p>
<p>Government is equally putting in place loan facilities for retailers who will maintain cheap prices. These will be supported by Government to make sure that their prices remain low.</p>
<p>As Government, we are engaged with industry for a more stable price regime. We are seized with this matter. We are a Government that is responsive to the people’s needs.</p>
<p>We are concerned with overcharging of goods and the constant hikes of prices of basic commodities. We understand the struggles that you are facing and we will step in with corrective measures.</p></blockquote>
<hr/>
<h2><strong>Related</strong></h2>
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<h3>Mthuli Ncube Orders All Businesses To Revert To Pre-January 12 Prices, Promises Refund</h3>
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</li>
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<h3><a href="https://news.pindula.co.zw/2019/02/03/diplomatic-offensive-the-reason-mnangagwa-missed-rally/" rel="bookmark">“Diplomatic Offensive” The Reason Mnangagwa Missed Rally</a></h3>
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<li class="entry-title">
<h3><a href="https://news.pindula.co.zw/2019/02/02/jonathan-moyo-says-mnangagwas-no-show-for-his-thank-you-rally-shows-something-is-wrong/" rel="bookmark">Jonathan Moyo Says Mnangagwa’s No Show For His ‘Thank You’ Rally Shows Something Is wrong</a></h3>
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<hr/>
<p><em><strong>More: <a href="https://www.sundaymail.co.zw/state-intervenes-on-basic-commodity-prices">Sunday Mail</a></strong></em></p>


<p><img alt="" class="aligncenter size-full wp-image-72171" decoding="async" height="430" loading="lazy" sizes="(max-width: 700px) 100vw, 700px" src="https://news.pindula.co.zw/wp-content/uploads/2019/01/Cocalcola_Coke_Corner.jpg" srcset="https://news.pindula.co.zw/wp-content/uploads/2019/01/Cocalcola_Coke_Corner.jpg 700w, https://news.pindula.co.zw/wp-content/uploads/2019/01/Cocalcola_Coke_Corner-300x184.jpg 300w, https://news.pindula.co.zw/wp-content/uploads/2019/01/Cocalcola_Coke_Corner-600x369.jpg 600w" width="700"/></p>
<p>The volume of soft drinks sold by Delta Corporation from October to December 2018 decreased significantly by 66% compared to the same period in 2018, the company has said.  The sharp decline was caused by the currency crisis that has gripped Zimbabwe for several months now.</p>
<p>In a Trading Update for the third quarter and the nine months to 31 December 2018, released today Delta said:</p>
<blockquote><p>The Sparkling beverages volume declined by 66% compared to prior year for the quarter and decreased by 26% for the nine months’ There were extended production stoppages arising from limited access to foreign currency required for importing key raw materials and the failure to clear arrear payments to The Coca Cola Company.</p></blockquote>
<p>There was an acute shortage of soft drinks in that period experience by Zimbabweans. At one point the delta soft drinks plant was reported to have been shut down, only to be reopened after the government intervened.</p>
<h2>Related:</h2>
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<h3><strong><a href="https://news.pindula.co.zw/2019/01/11/full-text-delta-corporation-update-3rd-quarter/">Full Text: Delta Corporation Update For 3rd Quarter And 9 Months To 31 December 2018</a></strong></h3>
</li>
<li>
<h3><strong><a href="https://news.pindula.co.zw/2019/01/11/delta-sold-much-more-beer-in-2018-festive-season-than-2017/">Delta Sold Much More Beer In 2018 Festive Season Than 2017</a></strong></h3>
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<h3><strong><a href="https://news.pindula.co.zw/2019/01/03/govts-quick-response-to-delta-shows-it-values-beer-and-fizzy-drinks-more-than-the-health-of-its-citizens-magaisa/">Govt’s Quick Response To Delta Suggests It Values Beer And Fizzy Drinks More Than The Health Of Its Citizens- Magaisa</a></strong></h3>
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<li>
<h3><strong><a href="https://news.pindula.co.zw/2019/01/03/delta-reverses-decision-to-charge-products-in-us-dollars-after-meeting-chiwenga-rbz/">UPDATED: Delta Reverses Decision To Charge Products In US Dollars After Meeting Chiwenga, RBZ</a></strong></h3>
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<li>
<h3><strong><a href="https://news.pindula.co.zw/2019/01/03/deltas-decision-to-charge-in-us-dollars-only-unacceptable-and-illegal-industry-minister/">Delta’s Decision To Charge In US Dollars Only, Unacceptable And Illegal- Industry Minister</a></strong></h3>
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<h3><strong><a href="https://news.pindula.co.zw/2018/12/28/pepsi-takes-advantage-of-deltas-struggles-to-double-production/">Pepsi Takes Advantage Of Delta’s Struggles To Double Production</a></strong></h3>
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<h3><em>Source :  Delta Corporation</em></h3>


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