admin
THE continued cash shortages that the country is experiencing has dampened the mood among the public and the Reserve Bank of Zimbabwe needs to act quickly to address the situation. From last week, most workers had started receiving their salaries and will need the money to pay for their monthly obligations.
It is disheartening that after toiling for a whole month, the same worker expected to put all the effort to increase production in companies has to struggle to access his or her money which will be locked in a bank.
With some banks now having reduced withdrawal limits to as low as $100 per day, most workers will be forced to spend time at bank queues resulting in loss of production time.
Meanwhile, the Industrial index lost a further 0.69 points (0,66 percent) to close the week at 104.43 points on Friday. Delta eased $0,0100 to $0,7100; Innscor shaved off $0,0094 to close at $0,2006 while Econet was $0,0026 lower at $0,2216.
Hippo shifted down $0,0004 to $0,1996 and Meikles was marginally lower at $0,0777 after shedding $0,0003. On the upside, Old Mutual added $0,0375 to trade at $2,2200 and Masimba inched up $0,0001 to $0,0075.
Week on week the Industrial index dropped 1.37 points (1,29 percent).
The Mining index was steady at 25.24 points. Bindura, Falgold, Hwange and RioZim maintained previous price levels at $0,0120, $0,0050, $0,0300 and $0,1610 respectively. Week on week the Mining index shed 0.35 points (1,39 percent).
Online Reporter