EDGARS Stores (Edgars) says its business recovery is premised on improved access to foreign currency through domestic sales to cover import requirements, a stable exchange rate and lower inflation.
This comes as Zimbabwe has for some time battled with exchange rate disparities and a surge in inflation, which has negatively impacted business operations.
“On the currency front, the environment has remained turbid, marked by the sharp depreciation of the local currency. Some measure of macroeconomic instability has been noticed with an increase in the cost of basic commodities.
“The authorities need to step in with various measures to help stabilise the foreign exchange market and tame inflation,” chairman Thembinkosi Sibanda said in the group’s 2022 annual report.