The head of Zimbabwe's central bank says store owners face trouble due to poor management of their firms, not the state of their businesses. He does not agree with their claims about money problems.
Dr John Mushayavanu shared these thoughts as he gave his money plans for 2025. He said he would help stores borrow money to buy goods. Before this, only makers of goods could use this help.
The bank chief made clear that stores must change how they run things. Bad choices hurt their work, he said. His words come as big stores shut their doors across the land.
OK Zimbabwe, the biggest store chain, plans to close some shops. Other large sellers like N. Richards and Mahomed Mussa cut back their work. Choppies Zimbabwe left the country.
People who know the store business say many owners spend much on fancy cars and big pay for their leaders. They say some store heads bought land they did not need and gave away cash they should have kept.
Some store owners point to street sellers as part of their trouble. These small sellers use foreign cash and skip tax fees, which allows them to sell things for less money.
Makers of goods like these street sellers more, say store owners. They ask for quick pay in US dollars or give just seven days to pay for goods bought on trust.
But Dr Mushayavanu thinks the real problems come from inside the stores. He gave them a way to borrow money for new goods. This help might fix some problems, but stores must first fix how they work.
Dr John Mushayavanu shared these thoughts as he gave his money plans for 2025. He said he would help stores borrow money to buy goods. Before this, only makers of goods could use this help.
The bank chief made clear that stores must change how they run things. Bad choices hurt their work, he said. His words come as big stores shut their doors across the land.
OK Zimbabwe, the biggest store chain, plans to close some shops. Other large sellers like N. Richards and Mahomed Mussa cut back their work. Choppies Zimbabwe left the country.
People who know the store business say many owners spend much on fancy cars and big pay for their leaders. They say some store heads bought land they did not need and gave away cash they should have kept.
Some store owners point to street sellers as part of their trouble. These small sellers use foreign cash and skip tax fees, which allows them to sell things for less money.
Makers of goods like these street sellers more, say store owners. They ask for quick pay in US dollars or give just seven days to pay for goods bought on trust.
But Dr Mushayavanu thinks the real problems come from inside the stores. He gave them a way to borrow money for new goods. This help might fix some problems, but stores must first fix how they work.
