- Deeping economic crisis and cash shortages have dampened the X mas celebrations of the people of Zimbabwe.
- Accessing cash has become an uphill task as people spend whole nights in queues to maximise their chances of getting the cash.
- Long winding queues are common sight in the Harare Central Business District as citizens, mainly civil servants try to withdraw their salaries.
Deeping economic crisis and cash shortages have dampened the X mas celebrations of the people of Zimbabwe. Accessing cash has become an uphill task as people spend whole nights in queues to maximise their chances of accessing the cash. Long winding queues are a common sight in the Harare Central Business District as citizens, mainly civil servants try to withdraw their salaries.
Most of the Bureaux de change had run out of cash. On Xmas eve almost 1000 people were jostling at Karigamombe Centre, which accommodates three forex exchange facilities. Some of them according to reports had been queuing for two days even sleeping in the queue including men and women and babies in violation of Covid-19 regulations.
There are allegations that the scarcity is also created to fuel the black market and some privileged people enjoy access to cash. According to reports, out of thousand, hardly 200 get access.
In August this year, the Reserve Bank of Zimbabwe monetary policy committee (MPC) meeting passed a resolution allowing Bureaux de change to sell foreign currency to ordinary walk-in customers. The objective was to promote financial inclusion and access to forex for small value transactions. But the facility to provide foreign currency to general citizens at a generous rate was overwhelmed by high demand. To end the crisis, experts have recommended the government formulate a plan for the money to be deposited into bank accounts so that people can withdraw straight from their accounts.
