NewsDay, Standard prices go up

ALPHA Media Holdings (AMH) has, with immediate effect, reviewed the cover prices of two of its three leading newspapers, as it seeks to weather the current economic storm and continue providing premium news content to the public.

NewsDay now cost US$1 each or ZWL$3, up from ZWL$2. The Standard's cover price remains at ZWL$3 or US$1, while the Zimbabwe Independent will be selling at US$1 or ZWL$5, up from ZWL$4 per copy.

"Basically, we want to stay in business and at the current pricing, we were not going to be able to print the quality news that we are known for because it is a cost in terms of gathering the news. This includes getting newsprint and printing the paper to put on the street to sell, of which all these costs have gone up, which are in United States dollars, which we do not earn," AMH finance director Brian Maphosa said.

However, the latest development is in line with the prevailing economic condition, where retail shops are charging in US dollars, with government joining in the bandwagon amid shortages of basic commodities such as cooking oil and sugar.

The country has been plunged into uncertainty as things continue to escalate, with the local currency constantly losing value.

AMH last reviewed prices of its products in October last year.