As the Zimbabwean economic crisis deepens, things have fallen apart at Chachacha business Centre in Shurugwi where a Juice Card with airtime valued at $1 is now being sold at $1,50.
The domino ramping-up of prices for goods and services across the entire economy began when Finance and Economic Development Minister Professor Mthuli Ncube announced a two percent tax on all electronic transactions on October 1.
Members of the public who commented on the airtime price hike said Zimbabweans are making life difficult for themselves as they seek to profiteer from a conjured economic crisis
“As Zimbabweans we are creating economic challenges for ourselves,how can someone sell airtime at $1.50,this clearly shows our level of economic madness,Econet has not hiked its airtime prices so what is pushing these unscrupulous people to sell at astronomical prices,” Fumed Mr Willard Mudzengi who is a cobbler at Chachacha.
An Airtime retailer Mrs Wendy Kachere said she just heard via social media that prices have hiked hence she followed suit.
“I just saw a message on whatsapp claiming that airtime prices had gone up in Masvingo hence we followed other business counterparts and increased our airtime prices,its not us alone even retail shops are now selling cooking oil at $15,”she said.
Economic analyst Mr Walter Bhebhe, partly attributed the price increases to social media speculation and informal foreign currency trade rates.