Spot News ZW

Zimbabwe News Owls

breaking news local

500k people got USD$50 from RBZ

By Tracy Mazhura

Harare-The Reserve bank of Zimbabwe’s Bureau De change facility has managed to serve only about a half of a million since it started in August 2021

The Monetary Policy released today by the RBZ Governor Dr. John Mangudya, the facility which was introduced in the second half of 2021 disbursed USD$23 million

“a total USD$23.1 million was disbursed to 461 908 individuals as at 31 December 2021”

“The bank was of the considered view that this facility would meet the small foreign currency requirements of the public for, among other things like medical and fuel expenses,” said Mangudya

The Facility has managed to service half a million in a country with an estimated population of 14 million

The bank however noted with concern the abuses of this facility by some members of the public which led to the Bank changing its terms

“In this regard, the Bank is refining the USD$50 Facility, with immediate effect to limit it to the vulnerable members of the society, that is pensioners, senior citizens, people living with disability and those requiring forex for medical purposes,” said the Governor

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *