Chronicle Editor
Andile Tshuma, Chronicle Reporter
OK Zimbabwe outlets have reduced prices of products as more shops are warming up to the removal of the multi-currency regime.
A reduction in prices means the runaway month-on-month inflation rate, which had become a common characteristic, will now be tamed and consumers will have more disposable incomes and thus increasing aggregate demand.
OK Zimbabwe is among the first major retail outlets to issue statements announcing a downward price review following the removal of the multi-currency regime last month.
“OK Zimbabwe is grateful for the support and patronage of all our customers. Your support and patronage particularly in these difficult times is specially appreciated. We are proud to be the leading Zimbabwean retail and supermarket chain and we strive to ensure that you will continue to get value from our stores.”
The supermarket assured shoppers of more stable prices following the removal of the multi currency regime.
“The last month of June has been turbulent as we received numerous price increases from our supplier base as they chased the exchange rate movement. We welcome the new SI 142, which we believe will stabilise prices and allow us to deliver the good prices and value you have always expected and enjoyed from us,” read the statement.
The retail chain has reduced prices for goods such as Mazoe orange crush (2l) which was reduced from $21 down to $16, Cerevita breakfast cereal which was reduced from $13 to $9.
“We have always received good support from our supplier partners. Accordingly, we have engaged them and some have started to moderate prices in response to SI 142. We will continue this engagement to ensure that we, together with them, deliver the values you have always enjoyed,” said OK.
Listed quick service business, Simbisa Brands, set the pace by slashing prices of its major products by 20 percent in response to monetary and fiscal consolidation measures being implemented by Government to stabilise the economy. — @andile_tshuma.
Online Reporter