Minister Accuses Business Of Hypocrisy & Double Standards
Zimbabwe’s Minister of Industry and Commerce, Mangaliso Ndlovu has blamed “sharks” for sabotaging the government’s plans to migrate to an interbank market.
He said these were the very same people who previously benefitted from the Reserve Bank of Zimbabwe (RBZ) system of forex allocation.
Speaking to delegates to the Bulawayo Zanu-PF Youth League one-day conference, Ndlovu said:
We have sharks that are thriving on the black market and are doing all within their powers to suppress a smooth migration into a formal trading system where companies can access foreign currency from the interbank market.
These are the same big guys who were big beneficiaries of the Reserve Bank of Zimbabwe system of forex allocation.
They are now seeing a situation whereby everyone is equal in the market and all that one needs is his or her RTGS money to buy foreign currency on the interbank market.
This is the reason why they are now resorting to putting spanners in the works so that the system fails.
Ndlovu castigated the private sector for their hypocrisy and double standards for calling for the liberalisation of the exchange rate, and then work against it.
Ndlovu accused private companies of hiking prices of goods so that people will revolt against the government.
