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Zuva Petroleum, Pick N Pay And OK Zimbabwe Not Openly Willing To Accept The Bond Notes

FinTech

Zuva Petroleum, Pick N Pay And OK Zimbabwe Not Openly Willing To Accept The Bond Notes

Zimbabwean supermarkets and some Petrol Stations

have rejected the newly-unveiled bond notes, despite banks offering the Bond Notes to depositors. Incessant queues at banks, which have imposed withdrawal limits to $50 for individuals and $100 for corporates, have become the norm with many Zimbabweans struggling to withdraw the upper limit of the range.

 The banks today (Monday) were offering mostly $2 bond notes and $1 bond coins, with the new currency supposed to have equal value to the US dollar.

But despite the excitement on the streets and ready acceptance by vendors, the big supermarkets in Harare including Pick n Pay and OK Zimbabwe were not eager to accept the bond notes that will also come in $5 values, at least for now.

Other Service stations have put up notices rating the new currency and not even accepting the currency like Zuva Service stations in Bulawayo.

“We are waiting for specimens and samples from the Reserve Bank. Maybe we will start accepting the bond notes in the afternoon when we receive the samples,” said one OK Zimbabwe manager to shoppers wanting to buy using the bond notes.

On the most streets vendors are accepting the bond notes Economists said it was still too early to give a valuation on the response and ease of transacting using the bond notes. We can only wait for one week and see how people and the markets respond.

The  introduction of bond notes stoked fears of gas shortages over the past week and  queues surfaced at some fuel stations.

The government sought to calm panicking drivers, saying the country has enough fuel stocks but Techunzipped has received pics of Fuel trucks waiting to get fuel from masasa NocZim and word is there is no fuel.

Pardon has been a technology enthusiast his entire life and has spent the better part of last decades in information technology and security, and he writes with an aim to remove some of the “mysticism” from the cyber world. He’s the Editor at Techunzipped. Away from the keyboard, you’re likely to find him playing with the latest gadgets or the latest Game.

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