JOHANNESBURG, February 8 (ANA) – The National African Federated Chamber of Commerce and Industry (NAFCOC) said it was “deeply concerned” by rising food costs and has moved to save its members from the negative impact, which has seen poor communities restrict their purchases.
“The worst hit section of our country is the SMMEs (Small, Medium and Micro-sized Enterprises), especially those in the townships who form the bulk of our membership. They service mostly low income communities whose buying power is being eroded by the price increases,” said Monga Phaladi, the NAFCOC Secretary General in a statement released late on Sunday.
The drought and the weak rand have largely been blamed for the spike in food prices.
Phaladi said businesses continued to suffer negative effects of increasing food and basic commodity prices. “NAFCOC will be working with players in the food industry to find ways of mitigating this matter.”
Phaladi said high prices had resulted in poor communities restricting their purchases of food and other basic commodities to the detriment of small businesses.
“This scenario has negatively affected small businesses and we call upon the government and other stakeholders to join hands with us to find a lasting solution to this matter,” said Phaladi, adding that as “NAFCOC, we will be soon embarking on nationwide road shows meant to engage with our members and small businesses in general to find ways of improving the deteriorating economic climate. Thereafter, we will be presenting our findings and proposals to key stakeholders including government, private sector and media.”
– African News Agency (ANA)
