Friday, 10 June 2016


Long and winding queues continue to be visible at some major banks as depositors jostle to withdraw their cash despite calls by the Reserve Bank of Zimbabwe for people to switch to the use of plastic money as a transacting option.

A snap survey conducted by ZBC News at various banking halls in the capital reveals that depositors are now besieging banking halls as early as 5am as financial institutions battle to cope with the cash demand which has rocked the country over the past months.

Some banks have resorted to issuing cards to control the numbers of people who can withdraw cash at a given time.

In other instances, depositors could be seen milling around outside as banks run out of cash even as early as mid-morning.

The situation is, however, calm at some banks with depositors saying they are being limited to withdraw between US$200 to US$500.

However, the bulk of depositors professed ignorance on the idea to switch to the use of plastic money as substitute of carrying cash.

Zimbabwe’s cash crisis has been fuelled by alleged externalisation and hoarding of cash, prompting government and the central bank to unveil policies aimed at combating cash leakages.


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