Hard currency shortages have grounded business and raised the cost of living for Zimbabweans as inflation - propelled by a thriving parallel market for forex - wreaks havoc on the economy.
Big companies in Zimbabwe, such as ABInBev’s unit - Delta Corporation - which is owed about $120million (R1.6billion) in unremitted dividends, have hiked prices.
The government of President Emmerson Mnangagwa has resisted re-dollarisation of the economy and at the weekend Ncube said Zimbabwe would have its own currency in the next 12 months. This was despite growing calls for full dollarisation or adoption of increased usage of the rand in that country.
“We should be close on currency reforms. We are less than 12 months away from currency reforms,” Ncube said on Friday.