Cash crunch hits Zimbabwe banks

A biting cash shortage has forced banks to lower their daily automated teller machine (ATM) withdrawal limits from $3,000 to $800.

A snap survey conducted, revealed that some locally owned banks had long suspended their ATMs, with a government-owned financial institution going without ATM transactions since the festive season in an effort to manage the cash shortages.

Banks have also suspended interconnectivity through ZimSwitch, at their ATMs or for specific banks.