Zimbabwe Companies Begin ShutDown as Things Get Out of Control
More companies continued to temporarily shut down today as they feel the heat of the market forces which have seen a sharp rise of prices for basic stuffs.
In other instances companies that sell raw materials are only demanding the scarce green buck scaring away retailers.
Most of these reputable firms as Edgars and Spar issued varying closure statements by close of business today.
President of the Confederation of Zimbabwe Industries, Sifelani Jabangwe told one of the daily papers that companies were trying to adjust to the new prices.
“Principally the companies are trying to adjust to new policy announcements. In any case, once there are new policy announcements, such as the budget companies take time to review, see impact on operations and profitability in the short to long term,” he said.
Pictures..Zimbabwe shops close down.