ECONOMIC ACTIVITY : Cash-strapped traders struggling to restock
Evidence of a drop in the purchasing manager’s index (PMI) to 51% registered in December 2021, from 54%, is now being felt by the services sector, especially distribution channels, who suggest that business conditions are not improving as expected. Ivan Manzi the head of sales at major distributor, African queen, says despite the reopening of the economy, traders are seen struggling with capital to restock fast consumer goods, and some looking to banks for rescue. But according to the recent ministry of finance figures, the purchasing manager's index remained above the 50 threshold signalling improvements in business conditions.
