Many depositors on Monday were left frustrated after queuing for long hours at banks and left empty handed despite government and Reserve Bank of Zimbabwe (RBZ) promises that new notes and coins were going into circulation to ease the liquidity crunch.
A brief tour of banks in Harare central business district by ZimSentinel showed that there were still cash shortages at banks, with clients forming long queues only to be told that the central bank has not supplied the new notes and coins and they had to return Tuesday.
Steward Bank Joina City branch manager refused to give a comment about why they were not giving money to people who wanted to make withdrawals, saying she was not authorised.
However, a security officer at the bank who declined to be identified for professional reasons said: “There is no money today because the bank has not yet received the money from the Reserve Bank; we are also waiting for it since we also want it. Hopefully, it will be there by tomorrow as they have gone to collect it from RBZ.”
The situation was the same at other banks such as CBZ Kwame Nkrumah branch where there was a short queue and the institution only gave depositors a maximum of $30 in coins.
At NMB bank, First Street branch there was no sign of people lining for withdrawals and the ATM was not dispensing any money, but security officers said they hoped the money would be available Tuesday.
Last week, RBZ flighted advertisements in the media that starting Monday would inject some liquidity into the banks. This was further buttressed by President Emmerson Mnangagwa, who at the weekend told State media that the cash crunch would be a thing of the past starting Monday.
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By Rutendo Bamu
