[Exclusive] The business of beauty: Carol Nyazika
CN: The hardest thing has been the economic instability in Zimbabwe. I import ingredients and packaging from different countries so I have to buy forex on the black market at high rates. For example, if I am importing USD$100 ingredients, I will have to purchase cash through the black market because I can not access the hard currency from the local banks due to the cash shortage. This requires ingenuity in accessing hard cash through different methods and sources. Unfortunately this means that every time the rate fluctuates, the company experiences losses, or responds by increasing prices or marketing to new markets in order to survive.
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