Doing business in Zimbabwe where the local currency is losing value almost on a daily basis could be discouraging, a Bulawayo entrepreneur in the textiles sector, has said.
Zimbabwe’s economy, which contracted last year, is performing at its worst in a decade with no signs of recovery anytime soon.
The International Monetary Fund (IMF) recently gave a damning report on the country’s economy citing failure by the government to implement necessary reforms.
Speaking to CITE on the side-lines of a marketing and branding for international competitiveness training workshop in Bulawayo Friday, Director of Rockers Label Clothing, Chinepiri Chapungu, said doing business in the country under the obtaining economic environment was not a stroll in the park.
“The challenges that I have experienced have to do with currency problems that we have in our country,” said Chapungu.
“Most of my products come from Mauritius. I have to use foreign currency to import them but locally, the government does not encourage us sell our products in forex.”
He said trading in the fast depreciating local currency was rather a drawback in business.
“So it is actually discouraging to do business in our country,” he bemoaned.
Chapungu, whose products include hats, shirts, trousers, head gear and others, said he had, however, created a niche for himself.
“I am currently exporting but not formally,” he said.
“I am doing that on a small scale because for most of my products, I sell on Facebook.”
Chapungu said he established his business out of passion in 2004.
“This business was established in 2004; it was just a passion,” he explained.
“The Rocker’s Label, inspired by the movie – Rockers, the Reggae movie and then, it was just me putting on and wearing the product and then the fans came and actually encouraged me to make a production from there.”
Chapungu said owing to the uniqueness of his products, he had less completion to talk about.
