Mnangagwa told his govt officials must lead by example

Zimbabwe Retailers Association leader Denford Mutashu  has reportedly told president Emmerson Mnangagwa to lead by example in the reduction of prices.

He reportedly said he should be the last to point fingers at traders for a wave of price increases that have shocked consumers because he and other cabinet members own many of the shops.

Mutashu was responding to Mnangagwa's threat to punish retailers and manufacturers who started increasing prices soon after he succeeded iron-fisted longtime ruler Robert Mugabe through a coup in November 2017.

"People in government own many of the shops that are increasing prices," Mutashu said.

Mutashu told a radio station that Mnangagwa was not moving fast enough on the anti-corruption front.

"They have arrested only a few of the thieves. Those are not the only people destroying Zimbabwe," he said.

Mutashu said there was "chaos in the market" due to foreign currency shortages triggered by the virtual collapse of the banking sector.

"The economy is being run by cash barons. Retailers are being forced to buy foreign currency under trees. There is no regulation," said Mutashu.