SINCE Gideon Gono introduced registered forex retailers the system seems to be falling apart.Â Previously there were enough â€œillegalâ€ traders that competition was creeping in and prices were fair and even coming down.Â Now we are experiencing crazy real term prices.Â
Â I donâ€™t for one minute think traders are â€œripping itâ€ but feel consumers and retailers alike have no idea of the value of the rand or US dollar.Â One thing that must surely be driving the inflation is Gono taking his 15% and demanding US$20 000 to register them. Is this not illegal?Â
I have priced groceries in Lusaka, which is regarded as expensive in world terms, and attached this list for readers to be armed with â€œrealisticâ€ prices.Â
If consumers know the value of items they can then argue the price of goods and help curb the increases.Â Retailers will be able to apply more realistic rates to their products.Â
Bear in mind that these Lusaka prices are on the high end of the scale!
Hope this helps keep sanity in the market.