Zimbabwe: Could the Black Market Become the Only Market in Zimbabwe?

Zimbabwe: Could the Black Market Become the Only Market in Zimbabwe?

Harare, Zimbabwe -- The price of doing business in Zimbabwean gold -- the country's latest currency -- is too steep for many retailers, who can't compete with an informal market still churning on US dollars.

Could the Black Market Become the Only Market in Zimbabwe?

Wellington Kaseke, left, and Oasis Ishingwe serve customers and receive US dollars at an informal grocery store, known locally as a tuckshop. Informal businesses like this one have flourished as formal retailers struggle and Zimbabweans increasingly prefer US cash over the year-old Zimbabwean gold currency. Photo Credit: Gamuchirai Masiyiwa, GPJ Zimbabwe This story was originally published by Global Press Journal. HARARE, ZIMBABWE — A year ago, …

Could The Black Market Become The Only Market In Zimbabwe? - The Bulrushes

Harare – A year ago, all 16 checkout lanes were packed at OK Zimbabwe supermarket in Harare, one of the major retailers in the country. Customers queued shoulder to shoulder, their carts filled with Zimbabwe’s pantry essentials. Today, just two tills are open. They serve only a handful of customers who pick from what’s available on half-empty shelves. Across Zimbabwe, the situation is the same in many retail shops. While some are still holding o…