"Zimbabwe Has Kwashiorkor Of Capital" – Reserve Bank Governor

HARARE – The Reserve Bank Governor of Zimbabwe has said, the economy enduring a decade of recession is facing “capital kwashiorkor”. He a...

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HARARE – The Reserve Bank Governor of Zimbabwe has said, the economy enduring a decade of recession is facing “capital kwashiorkor”.

He added that companies must embark on cost control in order to make profits or they risk losing everything.

"We are talking about cost control at a company level. If you do not reduce cost you will not make a profit and if you cannot make a profit you may be forced to close the company. We need to increase productivity in Zimbabwe and to control costs. Zimbabwe has a kwashiorkor of capital. We need new money."

Zimbabwe is enduring a cash crisis that has crippled most sectors of the economy.

"Zimbabwe Has Kwashiorkor Of Capital" – Reserve Bank Governor

"As a central bank we are working on the cost of doing business through ZAMACO. What it does is to make the companies that have a going concern assisted to ensure that they restructure their debt and over a period of time they will be able to pay back."

Speaking at the same platform, a competition and tariff expert said government should align its pricing structure to affordability.

This call is in tandem with many experts who believe the country could spur to glory by being realistic in their forecast.

The business community is instigating for an eternal devaluation because the country does not have its own currency.

Higher salaries, wages and prices also means business can only absorb fewer employees, hence an avalanche of retrenchments have ensured. – The Aloe News/The Herald

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