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Marketing
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At the end of that period, Truworths’ balance sheet revealed that in real terms the company had seen US$1,98 million in the value of its assets being wiped off.
TRUWORTHS Ltd CEO Bekithemba Ndebele says the local textile industry is too decimated to benefit from the(AfCFTA) as over 90% of formal manufacturers have shut down.
The retail chain was losing money due to the pricing at the official exchange rate, yet, its suppliers were using parallel markets rates that were way more than 50%.