Sites: Africa, Marketing, Medical, Retail
Marketing community of Africa
Marketing> The Loerie Awards 2008, Advertising, Branding, Cinema, CRM, Design, Digital, Direct Marketing, Education & Training, Eventing, Exhibitions, Magazines, Media, Mobile, Newspapers, Online Media, Out Of Home, Printing, Production, Promotions, Public Relations, Radio, Recruitment, Research, Retail, Sales, Sponsorship, TV, Youth Marketing, 2010 FIFA World Cup
Articles
Retail Articles

Zimbabwe: A nation of billionaires

Where in the world could you be a multi-billionaire and still go hungry? The answer is, of course, Zimbabwe.


Where there is a bank there is a queue. Photo: IRIN
The Reserve Bank of Zimbabwe (RBZ) has fixed the daily withdrawal limit at Z$100bn (roughly US$1.25) a day for individuals, but that comes nowhere near to covering the day-to-day costs of people living in the most inflationary environment in the world.

A loaf of bread costs Z$100bn at the official rate, a kilogramme of meat Z$450 billion, (around US$5.60) and a half-litre sachet of milk sells for Z$200 billion (about US$2.50). On the parallel market, where most people shop, prices are far higher.

Read the full article here.


[23 Jul 2008 11:45]

 SEND TO A FRIEND  |   PRINT

 
Comment on this
 


Share this page (Tell me more)


 











Receive free email newsletter
 
Tell a friend about us
 
CONTACT US | ABOUT US | SEND US NEWS | ADVERTISING RATES | sales@bizcommunity.com | +27 (0)21 680 3500
All rights reserved. © 2008. Bizcommunity.com, its sponsors, contributors and advertisers disclaim all liability for any loss, damage, injury or expense that might arise from the use of, or reliance upon, the services contained herein. Privacy policy, Terms of Use.
Connected by: Uninet