Reserve Bank of Zimbabwe investigates new black market notes

By Alois Vinga

The Reserve Bank of Zimbabwe (RBZ) has activated its security systems to uncover the source of new Zimbabwe dollar notes that are seen trending on social media platforms.

Speaking to NewZimbabwe.com, RBZ Governor John Mangudya confirmed investigations were underway following receipt of numerous complaints from the public.

He insisted no stone would be left unturned as he also went on to blame alleged abuse of social media for exposing the scam.

"I have activated the central bank's systems and as I am speaking investigations are being undertaken in order to bring to the fore the real facts behind that video," he said.

"What we are observing is lack of discipline among our citizens who are getting accustomed to the abuse of social media," he said.

The video on the following link; https://twitter.com/TechMagTV/status/1257313585786613761 shows a foreign currency dealer, wearing a face mask, throwing around hordes of new Zimbabwe dollar banknotes.

Zimbabweans are struggling to access cash from the banks and have to join snaking queues early in the morning to access limited funds from the banks.

As a result, most Zimbabweans suspect that the central bank is the only source of such new notes fuelling the black market.

However, Mangudya dismissed the allegations saying it was mere speculation emanating from a polarised society.

"Members of the public must know that the RBZ will never hand over cash directly to anyone. Our clients are banks and I believe the investigations which are underway will expose the errant banks behind fuelling such activities," Mangudya said while distancing the apex bank from the cash shenanigans.

Last year, similar investigations resulted in some banks being fingered in the release of fresh local banknotes into the black market.

However, the probe seems to have died a natural death.

This article originally appeared on New Zimbabwe