Kombis hike fares as change shortages hit despite ZiG introduction

Urban commuting costs have over the past month, gone up because of the change problem not due hike in fuel pump prices.

Instead of paying US$0.50, commuters are made to pay US$1. In some instances they are paired and told to look for change after disembarking.

Commuters are now forced to buy sweets, drinks, snacks and other trinkets on each trip because there is no change.

There seems to be only a handful amount of Zimbabwe Gold (ZiG) currency circulating on the market.

In most cases, the 10 ZiG note is being treated like a US$0.50 token by most businesses in the informal sector. It doesn’t seem like there are any other notes out yet.

Meanwhile, Zimbabwean police arrested 224 illegal forex dealers and froze 90 bank accounts in a coordinated operation with the Financial Intelligence Unit.

The crackdown aims to curb economic sabotage by illicit money changers following the introduction of the Zimbabwe Gold (ZiG) currency.

Authorities also fined over 40 individuals for violating the Exchange Control Act.

Zwnews