Edgars introduces US$ credit facility

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FACED with what it describes as a complex and challenging environment, Edgars Stores Limited (Edgars) says it has introduced US dollar accounts, while developing a resilient business model to withstand future shocks.
In a trading update for the 13 weeks ended October 9, 2022, group chief executive Tjeludo Ndlovu, acknowledged measures introduced by the central bank to tame inflation at the beginning of the quarter.

The measures included tightening monetary policy and saw interest rates increasing from 80 percent to 200 percent together with the introduction of gold coins as a store of value and further liberalisation of the forex market.