By Rick Nchito
Shoprite Zambia general manager Charles Bota says the Zambian economy is really biting and that his chain store has continued recording sales reductions. He said this yesterday at the 20th Anniversary of Manda Hill Shoprite.
Mr bota said the economy is so bad that the sales have reduced terribly posing a danger to the future of the chain store in Zambia. “There is no money in circulation and people are broke. Our sales have reduced by 40%. It is unfortunate that even the working class are now finding it so hard to even buy groceries because of their purchasing power that has also reduced,” he said.
“The economy is really biting for most Zambians and only a few are enjoying life in Zambia at the moment.” He said this right in tin front of Chief Corruptionist and Tourism Minister Ronald Chitotela who was the guest of honour.
Yesterday, the Central Statistics Office announced that Zambia’s annual inflation rate has jumped to 10.8% from 10.7% recorded in October 2019, likely to go past 11% by the end of December.
This simply means life has continued and will continue becoming very expensive in Zambia.
A 25kg bag of Breakfast Mealie Meal is now going at K165 in Lusaka and K175 in Isoka.