#EXCLUSIVE: Pharmacies Defy Official US$1: RTGS$2, 50 Rate

MOST pharmacies in Harare are still using the black market foreign currency exchange rate shunning the official rate of US$1: RTGS$2, 5, HealthTimes has established. By Kudakwashe Pembere In a survey around the city’s pharmacies, the publication discovered that they were charging between the range of US$1 as to RTGS$4 and RTGS$4,50. Most pharmacies even hiked the prices of their medicines in the US$. Asked about  the monetary policy view as presented by Reserve Bank of Zimbabwe Governor Dr John Mangundya, a pharmacist said it was about time they conceded…

Share
Read More

NatPharm Retail Pharmacies On Cards

ZIMBABWE’S state run medical supplies distributor National Pharmaceuticals (NatPharm) will soon open retail pharmacies nationwide starting in Harare to counter the extortionate three tier pricing of medicines, a Cabinet official said on Thursday. By Kudakwashe Pembere The broadening of the company’s portfolio into retailing is expected to benefit  Zimbabweans currently bearing the brunt of forking out the elusive US$. This move will see NatPharm as a player in the cut-throat market thereby increasing competition. Addressing journalists after touring NatPharm, Health and Childcare Minister Dr Obadiah Moyo said this move will…

Share
Read More

RBZ Injects US$6, 7 million To Allay Medicine Shortages

The Reserve Bank of Zimbabwe (RBZ) yesterday pumped in US$6, 7 million to mitigate the shortage of much needed foreign currency for the supply and manufacturing of medicines in the health sector, a Cabinet Minister said on Friday. By Kudakwashe Pembere A cross section of the health sector called on the apex bank to consider allocating a chunk of the US$500 million line of credit announced in the Monetary Policy Statement last week to the health sector which for months has been enduring the foreign currency crisis which caused the…

Share
Read More

Pharmacies Charging Parallel Market Rates

SEVERAL pharmaceutical retailers in Harare have resorted to charging all medicines especially critical drugs using a two tier pricing system as a way to stay afloat in the business dogged by foreign currency shortages, HealthTimes can exclusively reveal.   By Kudakwashe Pembere Investigations by this publication reveal that in this two tier system, the United States dollar has its own price while the Bond notes, Ecocash, RTGS have another which is a multiplication of five or three to the US currency. Pharmaceutical Society of Zimbabwe (PSZ) president Portifa Mwendera in…

Share
Read More

AHFoZ decries price hikes in pharmacies

By HealthTimes Correspondent The Association of Healthcare Funders of Zimbabwe (AHFoZ) has expressed concern over the huge increase in the price of drugs at most pharmacies saying this said could only worsen the suffering of patients. In a statement, AHFoZ, which represents the country’s medical aid societies, said over the past three weeks most pharmacies had increased the price of drugs by between 30 percent and 70 percent. This had resulted in huge shortfalls for medical aid society members. Some pharmacies, AHFoZ said, were rejecting medical aid cards and insisting…

Share
Read More