Gweru panics as banks dish out bond coins

Shakespeare Muzavazi

The Zimbabwean cash crisis seems to be further escalating as Gweru banks are struggling to provide cash for clients, most of them are dishing out coins in sachets much to the dismay of the clientele.

This development comes when the cash strapped Zimbabwean economy continues to run out of the much needed US dollar and the only remaining money is in bond notes and coins.

During a snap survey conducted by this reporter in the central business district of Gweru recently, most banks were dishing out coins; clients from various banking institutions could be seen holding sachets heavily loaded with bond coins and most of them murmuring in discomfort.

“I was shocked to receive an amount of $100 in 50 cents and 25cent bills as my salary withdrawal; I think the 2008 scenario is now back, it is that time again where satchels and bags replace wallets in Zimbabwe.

“Suppose a sachet of $100 coins weighs 1kg then if I get $350 I will be saddled with a big load, Ma 1 aya atanga vakomana,” fumed Winston Khumalo after withdrawing his salary from STANBIC Gweru branch.

Other depositors  who were impatiently queuing at Zb bank sang a different song as they argued that a long as the coins are legal tender they will accept them but in the process they bemoaned the cash crisis  that is bedeviling  Zimbabwean banks.

“If they have coins we will not complain because they are legal tender, what we are worried about is the withdrawal limit and the cash shortages.

“There is no money we are waiting for the white SECURICO car to deliver cash. Right now I am sitting in the scorching sun waiting for my queue card number to be called out. They are only allowing a maximum withdrawal of $100 a day and it is disbursed in bond notes only,” said Tafara Dimba with sweat mushrooming from his forehead.

THE introduction of bond notes has not eased the deep-seated cash shortages bedeviling the country as meandering queues of depositors in need of cash continued outside banking halls months after the central bank launched the currency.