Most Zimbabwean banks use Paynet, which is owned by Mauritian financial services provider Payserv Africa, to process interbank transactions. As part of the arrangement, the local banks pay the service provider in American dollars. But a standoff between banks and Paynet has resulted in service disruption.
The banks argue that they can’t pay in foreign currency because the facility is used to service mostly RTGS money. The International Monetary Fund in its Staff-Monitored Program for Zimbabwe said the value of banking sector assets had declined in real terms by 40% as of the end of last year. As such, paying for Paynet services in foreign currency will worsen the situation.
“I kept checking my balance and there was nothing and when I got to the bank I was told to check on Monday,” said a nurse.
Source: News Formal (newsformal.com)
This is wrong on so many levels
And still voting wrong people in gov and yet expect a change, ZIM please wake UP...This is your country and do whatever is necessary.
Yes that right, Bob has money overseas, so they must wait.
Shocking
Yhuu 😭😭
Recipe for a coup
Black monopoly capital has failed
They have the land nje
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