Zimbabwean President Emmerson Mnangagwa has threatened individual business entities over price increases and accused them of sabotaging his administration.
In a speech to ZANU PF supporters, Mnangagwa blamed private businesses for the current wave of price increases that have eroded incomes and further dampened the country’s economic revival hopes. He warned businesses to make corrections within seven days or face being named and shamed.
Mnangagwa blamed the price crisis on what he saw as unscrupulous practices by private businesses, despite reports suggesting it was triggered by recent payments to companies contracted to do government projects. He said:
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There are some businesses that are fighting us, especially soon after we proclaimed dates for elections.
Prices started going up, and our Zimbabwe dollar was under attack, with the rate going up.
This was done by those who wanted the people to turn against government. We sought to find out who these people are.
Last time, I mentioned some of them. I also have a list of others. But I am going to name them next week in Zaka.
Today, I want to warn them by saying that I sent my people to them about two days ago, to tell them that what they are doing is not right.
So, you have seven days to make corrections. On the seventh day, I am going to name and shame those that do not shape up. Those who are hoarding and those who are manipulating.
We strongly warned some of them that we would name and shame them.
They then begged us not to expose them by saying that our Zanu PF people would not buy from them.
They chose to pay some fines and agreed to change their ways. On Tuesday, we will hear more about some of these businesses.
So, those who are hoarding and manipulating the economy, I say to you, this is Zimbabwe and it is for Zimbabweans.
Either you are with us or you are not with us. If you are with us, we will support you and give you the leeway to do business. But if you are not with us, business rako richaunyana (your business will crumble).
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Zimbabwe’s economy has been hit by massive price increases on goods and services, causing a decline in workers’ incomes and putting pressure on the ruling Zanu PF party to address the issue. Unconfirmed reports suggest that the price hikes were triggered by a recent payment by the treasury to companies contracted for government projects. The government pays suppliers and service providers in local currency, which they then sell in the parallel market for hard currency, causing an artificial increase in exchange rates.
President Mnangagwa has blamed private businesses for the problem, refusing to acknowledge any wrongdoing by his administration. His threats are part of his efforts to solve the economic problems in the country and to be re-elected for a second term in the upcoming elections.
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