Open letter to Ncube, Nyoni
IT is a fact that our economy has been limping for far too long. Various prescriptions have been done, business leaders have chipped in with various intervention measures, but still, our economic situation is a daily subject of how it can tick considering the potential and resources our country is endowed with.
The tremors of the COVID-19-induced lockdown is still being felt. Businesses are sneezing. Compounding the dire economic situation is the scary volatility of the local currency against the United States dollar.
We humbly ask you Honourable ministers of Finance and Economic Development Mthuli Ncube and the Industry and Commerce Sithembiso Nyoni to embark on a thorough introspection of mainly what small businesses are enduring.
Firm immediate and long term measures are needed now to rescue and give a lifeline to businesses most of whom are now at the deep end.
Worryingly, some property owners are not relenting either by solely demanding rentals in US dollars against a fact that some of our transactions are done in our local currency. Honourable ministers Ncube and Nyoni have to implement policies that give direction on this issue.
Against this challenging phase some property owners are increasing US dollar rentals when businesses are fighting to remain afloat. The real time gross settlement value erosion in accessing the greenbuck on the parallel market is so painful (ZWL$16 000:US$1).
What need to be done to curb the existence of the parallel market and stabilising the rate has been said, is known and now is the time to solve this economic log jam and let businesses stabile and grow.
Honourable ministers, I hope you subscribe to the President’s mantra that of “listening to your flock”.