'Zimbabwe should focus on digitising money'

Mobile money expert and chief executive of TransferTo Eric Barbier has said digitising currency as a national agenda should be at the forefront of the dialogue to alleviate cash shortages.

TransferTo is a B2B mobile payment network, interconnecting financial institutions and mobile operators globally.

Thousands of leading companies, including Vodafone's M-Pesa, Tigo Money, Orange, Western Union, PayPal and Xoom rely on TransferTo's Mobile Money and Airtime Hub.

Barbier's remarks come as the Reserve Bank of Zimbabwe is set to introduce bond notes as part of measures to motivate exporters to sale more of their products outside the country to earn foreign currency and to ease liquidity challenges.

Barbier said the macro-economic factors at play have highlighted the potential for the emergence of a cashless society.