Harare-Informal traders in Zimbabwe are now rejecting 25 cents and 50 cents coins citing soaring inflation and would want to avoid “carrying sacks and sacks of money.”
The rejection comes barely a few weeks after the Reserve Bank of Zimbabwe recently introduced new $2 coins, $2 notes and $5 notes into the market to ease the cash crisis.
“We are not accepting 25 cents and 50 cents coins because they are heavy to carry. It does not make sense to be loaded with worthless coins and soon we will be rejecting the $1 coins,” said Taurai Chiramba, a trader in Mbare.
Commuter omnibus operators have also joined the band wagon citing that service stations are not accepting coins.
“Coins are no longer accepted in commuter omnibuses because they are saying service stations are also rejecting them and one wonders what is happening in the country.” said one commuter
A survey by this publication showed that coins are being rejected in the informal sector whereas in the formal markets it is business as usual.
Zimbabweans are now fear for the worst as that of 2008 where one would have lots and lots of money which can buy little things.