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Masiyiwa Loses Hundreds of Millions After the Zig Devaluation
Zimbabwean telecommunications mogule and pioneer billionaire Dr Strive Masiyiwa loses about 200 milion after Zig devaluation according to Forbes Real Time Billionaire List.Masiyiwa was sitting on 2 billion for the last couple of months, since the stock market was stable in Zimbabwe, however after the Zig devaluation which affected many business enterprises in Zimbabwe including Bhola and Powersales. Masiyiwa's loss is paramount and evident as his wealth and asset value is tracked and recorded in real time by Forbes.
In a Facebook post, Zimbabwe's renowned journalist Chin'ono said ;
"The devaluation of the Zimbabwean local currency has undoubtedly exacerbated the challenges faced by retailers, particularly those who rely on credit to maintain their operations.
The devaluation not only erodes the value of the credit they are owed but also undermines the purchasing power of their customers, further reducing their ability to generate revenue."
Most Zimbabweans are in a state of panic as they lost faith in the local currency and Zimbabwe is now the country with the highest inflation rate.
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