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ZiG Cash Shortage: Treasury, RBZ Bosses Are Clueless And Have Zero Empathy For Zimbabweans, Says Mmatigari

4 days agoWed, 15 May 2024 10:53:29 GMT
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ZiG Cash Shortage: Treasury, RBZ Bosses Are Clueless And Have Zero Empathy For Zimbabweans, Says Mmatigari

Mmatigari, a social media personality active on X (formerly Twitter), has accused the Ministry of Finance, Economic Development, and Investment Promotion and the Reserve Bank of Zimbabwe (RBZ) of lacking empathy for the majority of citizens who are inconvenienced by the critical shortage of ZiG notes and coins.

Authorities introduced the ZiG on April 5, 2024, to replace the Zimbabwe dollar. However, there continues to be a serious shortage of ZiG notes and coins, significantly impacting the day-to-day lives of most Zimbabweans.

While supporting the introduction of the new currency as a noble idea, Mmatigari contends that the Treasury and RBZ bosses have become divorced from the daily struggles of the people, displaying a “lack of empathy” and disquieting indifference to the citizens’ plight. Below is Mmatigari’s post on X:

1/ ZIG’s a brilliant idea. In fact, we must work towards dedollarising fast.

However, the intro & execution of ZIG by [the Ministry of Finance, Economic Development and Investment Promotion] & [the Reserve Bank of Zimbabwe] shows disquieting indifference & absolute LACK OF EMPATHY for people by policymakers. Here is why:

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2/ Millions of Zimbabweans run small businesses and earn below $300/month income. Here is the problem: In Harare, before the ZIG intro, an average kombi trip was 50c. There was change in bond notes before ZIG. This means getting into and out of town costs $1 using public transport

3/ In the first week of April, @ReserveBankZIM introduced ZIG. Suddenly, there is no way to change a dollar.

What do kombi drivers say to the commuting public? Find a partner to pair with and reconcile on your own because we don’t have change. Otherwise, the fare is $1.

4/ This sounds innocuous if you think of it as a $1. But what does that actually mean?

The ramifications are huge. The effect of this is that a trip for any commuter is at least $1.

5/ Why is this change significant? It’s huge because it’s a 100% increase in commuting costs.

Take commuters who work 6 days a week doing a round trip into town. That’s 24 days. Before April, they needed $24 a month. Now they need $48, a 100% jump.

6/What’s the meaning of that? Assume a worker at Pick n Pay earns $250 net of tax. In March, their income after commuting was $226. Suddenly because of the bumbling execution of ZIG, that employee is left with $200. If that employee has a child commuting to school, do the math.

7/ What does this mean for small businesses? An SME needs all hands on deck. Assume you have 10 employees, and before ZIG in March, you paid them a $25 transport allowance, that’s $250. In April, the allowance goes up 100% to $500 per month, wiping off your profits.

8/ I am only factoring in a round trip. Think of an employee at Pick n Pay Highland Park in Highlands who lives in Kuwadzana. The transport cost shoots up from $2 to $4, daily. That balloons the commuting costs to $96 a month.

9/ Commuting costs have doubled in a month, and we know that salaries have not doubled. What is this doing to our people? Just because the RBZ is not availing bank notes and solutions to make life convenient for our people.

People are not asking for much, just basic issues.

10/ And what’s worse? Kombis are very unlikely to bring back the commuting cost per trip to 50c even if change is made available in ZIG tomorrow.

11/ So what is this doing to inflation stats? What is this doing to small businesses and self-employed people?
What is this doing to school kids commuting to & from school from low-income households? What is this doing to civil servants? What is this doing to society in general?

12/ I have seen videos of women wrestling kombi staff to get their change back, and we know it’s a structural problem.

Why did we not think about these basic questions that affect the majority of our people DAILY. It’s now over a month plus since ZIG was introduced.

13/ Officials at the ministry of finance & [Reserve Bank of Zimbabwe] drive cars, probably get fuel coupons, don’t know what a kombi looks like and probably don’t know who picks and drops their kids to & from school.

They are VERY divorced from the daily struggles of the people. Clueless.

14/ How else can u explain such basic issues affecting millions not getting addressed over a month after ZIG’s introduction?

The only sensible explanation is an absolute lack of empathy and disquieting indifference to the people’s plight by @ZimTreasury & @ReserveBankZIM officials.

More: Pindula News

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