Millers Getting Maize From The GMB And Selling It In Some Parts Of The Country In Foreign Currency
Millers are reportedly involved in a corruption scandal that is seeing them obtaining maize from the GMB at a cheaper price, mill a portion of it and then divert the rest to some parts of the country especially rural areas near the borders where they are selling it in forex, Sunday News reports.
The millers are reportedly making a 218% profit as they access a 50kg bag from the GMB for $66 and sell it for R200 which is approximately $210 in local currency which translates to $1584 profit per tonne according to the publication.
A source that spoke to the publication said:
Electricity costs to mill have gone up and besides most of the millers are situated in areas which are being affected by load shedding. So, now the millers are simply taking the maize cheaply from GMB and selling it to villagers especially in areas where they know there is abundant foreign currency. At this rate they are making the money without an extra cost of milling, packaging and other related costs.
Zimbabwe has been hit with a grains shortage so dire, maize had to be imported from Tanzania and over 8 million people have registered for food aid as the food shortage crisis intensify.
Get Pindula News on our WhatsApp Channel
Subscribe here: https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v
More: Sunday Mail