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Cash Crisis Hits Zimbabwe

The cash shortage has forced banks to lower their daily withdrawal limits while the government has urged citizens to use cards instead of cash.

  • Zimbabwe:   Panic as Banks Run Out of Cash

    New Zimbabwe, 4 April 2016

    AN exasperated Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has told Zimbabweans that it "a national responsibility for everyone" to use cards when transacting as the… Read more »

Jeffrey Moyo/IPS

Vendors sell vegetables in Harare.

  • Zimbabwe:   Banks Act On Cash Crisis

    The Herald, 5 March 2016

    Reserve Bank of Zimbabwe Governor Dr John Mangudya yesterday said local banks imported enough cash following a temporary shortage in the past few days that crippled operations.… Read more »

  • Zimbabwe:   Depositors Flee From Banks

    Financial Gazette, 17 March 2016

    DEPOSITORS are moving from banks to informal savings groups, known in Shona as mukando, due to an erosion of confidence in the banking sector, the Financial Gazette can report. Read more »

  • Zimbabwe:   New Tobacco Payment System to Affect Traders

    The Herald, 23 March 2016

    INFORMAL traders are likely to be the hardest hit by introduction of the new payment system to tobacco farmers which will eliminate spot cash payments at auction floors. Over the… Read more »

  • Zimbabwe:   Cash Crunch Hits Banks

    Zimbabwe Independent, 22 January 2016

    A biting cash shortage has forced banks to lower their daily automated teller machine (ATM) withdrawal limits from US$3 000 to US$800, the Zimbabwe Independent can reveal. Read more »

  • Zimbabwe:   Enough Cash for Christmas - RBZ

    Zimbabwe Standard, 6 December 2015

    THE Reserve Bank of Zimbabwe (RBZ) believes the cash crisis that left ZB Bank depositors stranded last week will not spread to other banks ahead of the festive season. Read more »

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