ZIMBABWEANS yesterday appealed for the reopening of banks
at least once a week during the lockdown period for them to access their money
in foreign currency accounts and other services.
All banks and micro-finance institutions are closed, with
clients being told to transact using online and digital money platforms which
foreign currency account holders have no access to. The institutions have done
this to reduce the spread of Covid-19.
Those intending to receive money from international money
transfer agencies such as MoneyGram, World Remit and Western Union have also
been seriously affected.
EcoCash has also closed shops, encouraging clients to
transact electronically but there have been glitches that have seen some people
having their money deducted but is not credited when payment is due.
Highlighting a challenge they were facing, tour operator Ms
Yvonne Jandles said nostro account holders cannot use online banking for
transactions but have to physically go
to a banking hall.
“Those who were not able to withdraw cash before the
lockdown cannot access money now as banks are closed hence, they can’t buy
anything now. Some banks were giving a maximum of US$200 per transaction which
means that many couldn’t get enough to last them 21 days and we wish
authorities could allow banks to occasionally open once or twice a week
although we understand this may affect social distancing,” she said.
Consumer Rights Association (CRA) spokesperson Mr Effie
Ncube said the financial sector should open as online services are not
efficient. He said increased traffic to virtual platforms has overwhelmed
banking facilities causing transaction glitches.
Mr Ncube said his organisation had formally engaged
Government over the issue.
“It’s a sad situation which we have raised with relevant
authorities that we can’t have banks closed for 21 days because the majority of
Zimbabweans are not on online banking. We have the rural population and
pensioners who access their money physically from the bank and adding those
earning in foreign currency, you can see what the situation is like,” Mr Ncube
said.
“As CRA we are calling upon Government to ensure banks are
physically open the same way supermarkets are open. If people can observe
social distancing while queuing in supermarkets to buy essentials, why can’t
they do so in banks where they should get the money to buy from the same
shops.”
Contacted for comment, Bankers Association of Zimbabwe
president Mr Webster Rusere was adamant that banks were effectively providing
service. He said banks were encouraging electronic transactions as a measure to
mitigate against the spread of Covid-19.
“What I’m basically saying in summary we with the Central
Bank, have come up with an agreement that banks will continue to provide
services. Naturally if you see some of these branches closed, banks have taken
necessary steps to improve on the mobile delivery channels on the virtual
platforms. If you haven’t registered register now, go and register,” said Mr
Rusere.
Economic analyst Dr Davison Gomo, feels reversing some of
the pronounced policies might negate the gains the country has made so far in
fighting coronavirus.
He urged citizens to be patient as the lockdown is
short-lived.
“The national decision and national policy will fail if we
localise some of these issues. While this is a worrisome situation, a national
decision was taken because of the effects of Covid-19 and the need to control
its spread. Government is not oblivious to these issues and you have heard
leaders saying something will be done to cushion people and I am sure right
decisions will be made at the right time.
“This situation is not going to be there forever.
Government is fully aware of the difficulties but there is no easy way out and
we can’t have solutions for each sector except for those exempted. We have many
people raising similar concerns but let’s be optimistic that Government will
address these and we go back to normal life,” he said.
While supermarkets are stocked with various basics,
consumer buying power is very low in Victoria Falls as only a few people visit
the shops, Chronicle established. Chronicle
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