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in Deutsch in Medien und Literatur 12.02.2019 03:15
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  by Tichaona Chifamba

  HARARE, April 7 (Xinhua) -- A new round of cash shortage hit Zimbabwe in recent weeks as banks started to limit withdrawal amounts and the central bank is calling for a reduction in imports to curb the money exodus.

  Zimbabwe has 14 commercial banks, with Barcklays, Stanbic, Standard Chartered, Ecobank, BancABC, MBCA being foreign owned. Some have reportedly starting to limit maximum withdrawals to 500 U.S. dollars per transaction while Automated Teller Machines (ATMs) regularly report "technical problems" each time people wanted to use them.

  A middle manager at one commercial bank said some people would take advantage of the Zimswitch facility and cash out at different banks after finding out that their banks were giving limited funds.

  "We had to go off Zimswitch because we were not benefitting with clients from other banks making use of our ATMs," the manager said.

  Motor mechanic Tapuwa Chungu told Xinhua that he had sensed that there was something amiss when he and a colleague were given 500 dollars in one dollar notes from two different banks.

  "You may say that I got all the money I needed and so there is no cash shortage, but how do you explain getting all of it in one dollar notes? It's like they have collected the funds from a toll gate," he said.

  Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has acknowledged the shortage of cash in the country but hastened to say banks continued to import, although this was not an overnight event.

  In an interview with The Herald newspaper, he attributed part of the shortage to the current payment of bonuses to government employees and appealed to the banking public to use plastic money as opposed to cash transactions.

  The government started paying belated end of year bonuses for 2015 to its employees at the end of March.

  Mangudya also blamed some people who opted to keep their money from banks for causing the shortage.

  "There are local businesspeople that do not bank their daily takings, preferring to keep the money in safes at home, fuelling cash shortages," he said.

  However, many people still need to be reassured that the financial system is now robust enough to stay afloat and protect their deposits after the collapse of Zimbabwe dollar in 2009, with some receiving compensation they regarded as paltry and "insulting".

  Some supermarkets which used to offer cash-back facilities to customers using Points of Sale cards have also stopped the practice.

  "The confidence that had been slowly building within the banking public is now being eroded again. I should get my money on demand but being limited to certain amounts tells a different story," Chungu added.

  A similar cash crisis hit the country in late 2014, also largely because of bonus payments, but the situation eased as the new year progressed with wage bills getting back to the lower levels.

  Mangudya said he had requested the Afreximbank to put in. http://wholesalesoccercheapjerseys.com/ Wholesale NHL Jerseys From China Wholesale NFL Jerseys China Wholesale NCAA Football Jerseys Wholesale Basketball Jerseys Free Shipping Wholesale Baseball Jerseys Cheap Wholesale Replica Soccer Jerseys Cheap Jerseys Cheap Jerseys From China Cheap NCAA Jerseys

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