Bread price freeze threatens firms’ viability

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A FREEZE on bread prices by government last year has suppressed the profitability and viability of businesses in the baking industry, with major players like Innscor Africa reporting a decline in operating profit for the six months ended December 31, 2017.
Players in the sub-sector resolved in December last year to effect a 10 percent increase in the price of bread, but this was reversed following intervention by Industry and Commerce Minister, Mike Bimha.