Edgars Stores fights back against Zimbabwe's worst drought since 1982 and economic problems. Chief Executive Sevious Mushosho told business experts the company focuses on local partnerships and making products inside the country. The retail chain opened six new cash-only stores last year with items priced between one and ten dollars. Bank interest rates climbed higher and suppliers demanded payment faster during tough times. The company used internal factories to avoid supply chain breakdowns.
Zimbabwe's new ZiG currency caused landlords to demand rent payments using US dollars instead of local money. Energy costs and local government fees jumped 60 percent after the currency change. Informal traders compete hard against formal businesses like Edgars across the retail market. The company created exclusive products that customers cannot find anywhere else. Local manufacturing helps Edgars stand out from competitors who smuggle goods without paying import taxes.
Zimbabwe's new ZiG currency caused landlords to demand rent payments using US dollars instead of local money. Energy costs and local government fees jumped 60 percent after the currency change. Informal traders compete hard against formal businesses like Edgars across the retail market. The company created exclusive products that customers cannot find anywhere else. Local manufacturing helps Edgars stand out from competitors who smuggle goods without paying import taxes.
