The Herald (Harare) Published by the government of Zimbabwe

Zimbabwe: New Hat for Ex-Forex Dealers

Harare — POPULAR urban grooves outfit Extra Large, popularly known as Maroja, often dwells on the lighter side of life.

The group's compositions are tailored on simple aspects of life that people take for granted.

They are as humourous as their music, although some people dismiss them as drunkards. However, Maroja's latest release titled Extraordinary is a sure fire hit, not because of the beats, but because anyone can relate to their music.

"High Rate" is a track that pokes fun at moneychangers of yesteryear who once led lavish lifestyles and made lots of cash without breaking a sweat.

Easy come, easy go, as they say was the order then as the moneychangers splashed cash on trinkets, women and beer.

Their lives were hinged on the phrase "high rate" that many had grown accustomed to over the past few years when hyperinflation was wreaking havoc in this country.

High rate was basically a unit cost, which one would get from a dollar on the illegal parallel market and was higher than the bank rate.

For those who offered "high rates" business was brisk and most of them never used to think about tomorrow let alone make fallback plans.

Given the wads of money that they got per day, it was easier for them to spend it than keep it. But when the authorities introduced the multi currency to beat the instability of the Zimbabwe dollar, some of the money changers were pushed out of business while others quickly worked out survival tactics.

These are the most industrious ones who after being forced out of business, quickly switched to the transport sector.

Having grown used to getting cash on a daily basis, the transport business was one of their best options, where they were assured of instant and daily cash inflows.

A good number of these money changers imported used cars mostly Toyota Corollas and Nissan Marchs or bought second-hand local Nissan Sunnys (commonly known as boxes) or Mazda 323s.

Some even went for Mercs and other luxury cars which they have since stopped using because they are expensive to run.

Others sold the top-of-the-range cars and bought Mazda 323s, Nissan Sunnys, Toyota Corollas and Nissan March which they now use to ply the City-Parirenyatwa-Avondale route.

These second-hand sedans are usually parked along Leopold Takawira just opposite Town House where they pick up passengers on their way to the Avenues, Parirenyatwa Hospital and Avondale.

Michael Muto, a former money-changer said he was happy to be able to eke a living from "pirating" after the fall of the foreign currency business.

"Business is good I can't complain because at the end of the day I usually take home about US$40 to US$50.

"There is demand for smaller cars because this is a busy route which has several shopping malls, five hospitals -- West End, St Anne's, Baines Avenue, Parirenyatwa, the Medical Chambers -- and schools," he said.

Although at one time he tried his hand on fuel dealing, Muto said, it was not sustainable.

Jeffrey Thomas, another "pirate" said the transport business was one of the most lucrative businesses nowadays as people travel a lot. He said almost every day there would be people going either to hospitals or shopping malls.

"My route is short with higher returns because instead of going all the way to Greencroft, I just go as far as Avondale shops and wait for those who will be coming back to town," he said.

The story is the same for Rungano Maphosa, who drives for his brother who also used to be a money changer.

"He (brother) managed to buy two second-hand Mazda 323s and he drives the other one. His initial intention when he bought the first car was to use it for multiple purposes but when he could not service or refuel it, the only option he had was to join the transport business.

"So far, he is enjoying every bit of it although at times we don't make as much money as we would have wanted due to either the police or municipal police who from time-to-time arrest us," he said.

Rungano said the money that they get per day was enough for them to survive as opposed to waiting for long hours on the pavements waiting for those who wanted to buy or sell foreign currency.

As this reporter and photographer waited along Leopold Takawira Street where the illegal taxis were parked, a scruffy middle-aged man approached us and asked if we were plainclothes policemen.

After explaining to him that we were from The Herald he dished out a broad smile and expressed his willingness to talk.

"Well, I have never been a money changer," he said, adding that, "The reason I'm here is because I have two cars that ply this route."

From the look of it, one would be forgiven for thinking that he was a street kid but then as he continued with his story, we discovered that he was indeed the owner of one of the cars that were parked.

"This is the place we call 'the money link' because you get your instant cash. I bought a house and raised my family of four from the earnings which I got from here," he said. Asked how he managed to buy the two cars if he was not into money changing, the bloke said he left for South Africa in 1990 where he worked at a construction company.

"While I was there I managed to save quite a bit of money and when I returned to Zimbabwe in 1996 I bought my first Mazda 323. So this is what I do. I've done my business from here and I've never worked anywhere.

"You see this young man (pointing to a tout) I've known him since he was 10 years. He, like the rest of the other guys who do not own cars, is ekeing out a living on this," he said.

The bloke boasted that he was living happily at his house in Chitungwiza.

"My house is in Chitungwiza and the reason you now see a lot of cars on this route is because some of us had Peugeot 404s that were phased out while others went out of their way to buy small cars. So, before the introduction of multiple currencies, it did not make sense to pirate because of high fuel costs and service. But now everything is okay with the dollarisation and we are running the businesses profitably," he said.

On average, the former money changers and others who had been in the pirating business before make between US$40 and US$50, an amount that one would consider a good earning but not adequate for the former foreign currency dealers to continue with the lavish lifestyle they had become accustomed to.

Even the life they live attests to the fact that they are now living within their means. A soft drink and buns for lunch is all they can afford as they try to balance the cost of running the car and the income they generate.

After all these are signs of the changing times and people have to swim with the current to survive.


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