|End-of-day quote - 10/29|
Econet Wireless Zimbabwe : Reduce Prices By 20 Percent - Econet
|05/01/2020 | 07:06am|
The obtaining tariffs, which were approved early March have been rendered sub-economic by rising inflation which came out at 676 percent in March and the falling exchange rate from 30 to 50 for every US dollar.
The last March tariff adjustment came approximately five months after the last one in
Other suppliers such as landlords, have pegged charges to the US dollar and with a falling exchange rate and this means costs to
This, analysts say, threatens the viability of not only
"It is in this context that we request all goods and service suppliers to
Rising costs of goods and services have been an albatross for businesses and consumers and the proactive action taken by
Market watchers say the 20 percent price adjustment will help
Covid-19 has brought with it increased usage of the network, but with inflation and falling exchange rate, the revenue generated is not enough to keep the network up and running.
"As we take this necessary pain to protect
our business, we sincerely hope we will share in the benefits when the economy turns around," said
Government and other economic players last week took almost similar measures after agreeing to lower prices to pre-lockdown levels.
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