BY TATIRA ZWINOIRA
ZIMBABWE’S industries are still battling to access millions of United States dollars allocated through the foreign currency auction system, Confederation of Zimbabwe Industries (CZI) president, Kurai Matsheza told NewsDay Business yesterday, warning that the backlog had exacerbated an already dire industrial machinery crisis.
The foreign currency auction system ran into problems about a year into existence last year, amid reports that the central bank was struggling to honour allocated funds.
At one point last year, the CZI said firms were owed over US$200 million.
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