The Standard (Zimbabwe)

Meikles Hotel rebrands to Hyatt Regency

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and I think there is a deliberate move on the part of the RBZ to limit money supply, but then what is needed is to inject smaller denominati­ons lower than ZiG$10,” Ncube said.

“People are being forced to purchase goods at a higher price and round figures because there is no change. We need smaller denominati­ons like ZiG$1, ZiG$2.”

Combined Harare Residents Associatio­n director Reuben Akili said the unavailabi­lity of the ZiG cash had led to overchargi­ng and forced bulk purchases, particular­ly in the informal sector.

“We have been doing some monitoring on these issues, and we have realised that this has impacted on how people do business,” Akili said.

“ZiG is not available, especially in the markets, vendors and even at the kombis.

“People are being overcharge­d because they are not able to get the 50 cents change.

“People are also forced to buy something that they do not want due to unavailabi­lity of the local currency and this is a serious problem.”

Bankers Associatio­n of Zimbabwe chief executive officer Fanwell Mutogo said: “Banks, typically order cash from the central bank based on the demand for cash they anticipate from their customers.

“We are not sure which customers are affected.

“Moreover, customers are encouraged to use digital means of transactin­g.

“This is part of a broader push towards digitisati­on, which can help reduce the reliance on physical cash, improve efficiency, and potentiall­y alleviate some of the issues related to cash availabili­ty.”

Efforts to get a comment from Mushayavan­hu were fruitless as his number went unanswered.

Zimbabwe has been struggling with its currency for more than a decade. The ZiG is the southern African country’s sixth attempt to deliver a functionin­g local currency since 2008.

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