News / Regional
South African rand rejected in Gwanda
13 Jan 2016 at 11:35hrs | Views
The South African rand which is on a free-fall is being rejected by businesses in Matabeleland South.
In recent months, the rand collapsed to R17,91 against the dollar leaving thousands of Zimbabweans with relatives in South Africa in a dilemma.
Many people in the province rely on their relatives based in South Africa for survival.
With over three million Zimbabweans based in South Africa, the bulk of them from the Matabeleland region, many people are staring starvation as business operators are refusing to trade in rands.
Some shops at Jahunda's old location in Gwanda have stopped taking rands.
"We are no longer accepting the rand because it's weakening almost daily leaving us with worthless notes. Until the rand stabilises, we will not accept it," said a shopkeeper who refused to be identified.
Siphephile Ndlovu of Jahunda in Gwanda said "We are moving from one shop to the other and they are telling us that they no longer want rands. Those who are accepting are using a rate of R20 against the dollar."
In recent months, the rand collapsed to R17,91 against the dollar leaving thousands of Zimbabweans with relatives in South Africa in a dilemma.
Many people in the province rely on their relatives based in South Africa for survival.
Some shops at Jahunda's old location in Gwanda have stopped taking rands.
"We are no longer accepting the rand because it's weakening almost daily leaving us with worthless notes. Until the rand stabilises, we will not accept it," said a shopkeeper who refused to be identified.
Siphephile Ndlovu of Jahunda in Gwanda said "We are moving from one shop to the other and they are telling us that they no longer want rands. Those who are accepting are using a rate of R20 against the dollar."
Source - Byo24News
