Social media was awash with rumors yesterday that one of the county’s largest wholesalers Mahomed Mussa was shutting down due to the skyrocketing RTGS/USD rate.
The Black market rate has been escalating lately with $200 in your bank account getting you a paltry $100 in hard USD currency, representing a premium of over 100%.
The distortion in the market and the cash crisis has seen the parallel market flourishing and businesses that rely on imports feeling the pinch and forking out more money for the elusive greenback.
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| Mahomed Mussa EMPTY Shelves: EMPLOYEES Reveal The TRUE Story! |
An undercover visit to the shops today however painted a different picture as it was business as usual and no signs of empty shelves.
STAFF members who spoke to this reporter on condition of anonymity attributed the misinformation to shoppers who were unaware that the wholesaler was embarking on a stock-take.This resulted in some of the shelves being reorganised leading to speculation that they were shutting down.
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