Business

Zimbabweans wary of new worthless ‘bond note’ dollars

Harare – Zimbabweans on Monday greeted their new “bond note” currency with deep suspicion that it could herald the return of hyperinflation that destroyed their savings less than 10 years ago. The country has operated mainly on US dollars since 2009, but banks and cash machines started dispersing new “bond …

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Five reasons NOT to trust Mugabe’s central bank chief on new Zimbabwe bond notes currency

News24 Correspondent Harare – Long queues outside ATMs. Security guards confirming that those machines that are already empty “won’t be stocked until Monday.” A banking official speaking privately of “truckloads” of bond notes on the move before the weekend. Zimbabweans are in panic mode following Saturday’s announcement that the central …

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Zimbabwe supermarkets reject new bond notes currency as worthless

Harare – Zimbabwean supermarkets rejected the newly-introduced bond notes in early trade on Monday, despite banks offering the local currency to depositors and excitement on the streets of Harare. The Reserve Bank of Zimbabwe (RBZ) introduced the bond notes to the market on Monday and banks started distributing them through formal …

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As Zimbabwe’s money runs out, so does Mugabe’s power

HARARE: In Zimbabwe, where worthless $100 trillion notes serve as reminders of the perils of hyperinflation, President Robert Mugabe is printing a new currency that jeopardizes not just the economy but his own long grip on power. Six months ago, the 92-year-old announced plans to address chronic cash shortages by …

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