Bakers lament foreign currency payment delays

Bakers lament foreign currency payment delays
Published: 16 August 2017
The National Bakers Association of Zimbabwe's production is being hampered by the outstanding US$16 million in foreign payments for the acquisition of raw materials for the bread industry.

The local baking industry has an installed capacity of 1.8 million loaves a day but economic constraints are hampering the attainment of high figures, especially delays in foreign currency payments.

The industry has also seen up to 93 small bakeries closing shop owing to economic induced challenges as well as stiff competition from major bakeries across the country.

The association chairman Mr Ngoni Mazango says besides other constraints, delays in foreign currency payments is impacting negatively on the industry.

The Grain Millers Association of Zimbabwe, the National Bakers Association of Zimbabwe and government are working towards increasing wheat production to ensure constant supply of raw materials to the baking industry.
- zbc
Tags: Bakers,

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