News / National
Surge in US$ cash transactions triggers spike in armed robberies in Zimbabwe
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Zimbabwe is experiencing an alarming rise in armed robberies, with the increasing use of US dollar cash transactions making businesses, banks, and individuals prime targets for criminals. Violent attacks on cash-in-transit vehicles, commercial establishments, and private residences have become more frequent, prompting authorities to implement stricter measures to combat crime and reassure the public.
According to recent reports, robberies in the country have surged by 11 percent, underscoring the growing threat posed by armed criminals. High-profile incidents across the country have highlighted the audacity and frequency of such attacks. In Bulawayo's city centre, a six-person gang recently robbed Ecobank of US$4 million, while a family in Cowdray Park lost over US$25,000 in a violent home invasion last week. In another robbery in Luveve suburb's Chigumira Shopping Centre, armed assailants hijacked a luxury vehicle from a man, although it was later recovered in Gwanda, with three suspects arrested.
Other major robberies include the 2022 heist at ABC Auctions in Harare, where US$1.4 million was stolen, and the 2021 ambush of a cash-in-transit vehicle on the Harare-Chinhoyi Road, in which US$2.775 million was taken. In Ruwa, armed thieves raided Thornicroft Primary School and made off with US$30,000, further illustrating the widespread nature of the problem.
National police spokesperson, Commissioner Paul Nyathi, warned the public, businesses, and financial institutions about the dangers of handling large sums of money. He urged citizens to avoid keeping substantial amounts of cash at home or on their persons, advising that money should be securely stored in banks to reduce the risk of being targeted by criminals.
"Money naturally attracts criminals," Nyathi explained. "We always emphasize that people should avoid keeping large sums in homes or businesses. Criminals may have inside information, and money should be kept in the banks. Small amounts for daily use should suffice."
Nyathi also highlighted the need for financial institutions to enhance their security measures, particularly during large transactions. He advised banks to improve security protocols to prevent criminals from trailing individuals after witnessing substantial cash dealings in banking halls.
For the mining sector, Nyathi cautioned against flaunting wealth and urged companies to store large sums of money and valuable minerals securely in financial institutions rather than at their premises.
In response to the growing crime wave, businesses, particularly those in the forex sector, have expressed deep concern over the surge in robberies. Louis Herbst, a prominent businessman and former ZNCC vice-president for the Matabeleland chapter, emphasized the urgent need for effective preventive measures to curb the rise in violent crime.
"Business owners and the public are extremely concerned. There is a need for immediate action and discussions to develop strategies that can protect businesses and individuals from becoming targets," Herbst said.
Herbst also stressed the importance of restoring trust in Zimbabwe's banking sector. "Banks play a vital role in the economy, and by using banking services more effectively, we can reduce the vulnerability to armed robberies. Financial institutions must not only ensure their security systems are top-notch but also offer platforms that prioritize the safety of their clients."
He also recommended that businesses invest in advanced security measures such as surveillance systems and alarm technologies, as well as cultivating a culture of security awareness among employees to recognize and report suspicious activity.
Economist George Nhepera echoed the call for businesses and individuals to store their wealth in secure banking institutions. "Banks have vaults that can keep our money safe under lock and key. Storing large amounts of cash at business premises or in homes is simply not safe," Nhepera said.
Both Nhepera and Herbst underscored the need for a collaborative approach from the Government, financial institutions, and businesses to address the root causes of crime, including the socio-economic factors contributing to the rise in robberies. By focusing on community development, education, and providing economic opportunities, they believe the country can reduce the incentives for criminal behavior.
Smart banking solutions, such as secure digital transactions and electronic banking, were also identified as key tools in reducing the reliance on cash transactions and mitigating the risks associated with carrying large sums of money.
As Zimbabwe grapples with this alarming surge in violent crimes, authorities, businesses, and individuals must work together to strengthen security measures and restore public confidence in the country's financial systems.
According to recent reports, robberies in the country have surged by 11 percent, underscoring the growing threat posed by armed criminals. High-profile incidents across the country have highlighted the audacity and frequency of such attacks. In Bulawayo's city centre, a six-person gang recently robbed Ecobank of US$4 million, while a family in Cowdray Park lost over US$25,000 in a violent home invasion last week. In another robbery in Luveve suburb's Chigumira Shopping Centre, armed assailants hijacked a luxury vehicle from a man, although it was later recovered in Gwanda, with three suspects arrested.
Other major robberies include the 2022 heist at ABC Auctions in Harare, where US$1.4 million was stolen, and the 2021 ambush of a cash-in-transit vehicle on the Harare-Chinhoyi Road, in which US$2.775 million was taken. In Ruwa, armed thieves raided Thornicroft Primary School and made off with US$30,000, further illustrating the widespread nature of the problem.
National police spokesperson, Commissioner Paul Nyathi, warned the public, businesses, and financial institutions about the dangers of handling large sums of money. He urged citizens to avoid keeping substantial amounts of cash at home or on their persons, advising that money should be securely stored in banks to reduce the risk of being targeted by criminals.
"Money naturally attracts criminals," Nyathi explained. "We always emphasize that people should avoid keeping large sums in homes or businesses. Criminals may have inside information, and money should be kept in the banks. Small amounts for daily use should suffice."
Nyathi also highlighted the need for financial institutions to enhance their security measures, particularly during large transactions. He advised banks to improve security protocols to prevent criminals from trailing individuals after witnessing substantial cash dealings in banking halls.
For the mining sector, Nyathi cautioned against flaunting wealth and urged companies to store large sums of money and valuable minerals securely in financial institutions rather than at their premises.
In response to the growing crime wave, businesses, particularly those in the forex sector, have expressed deep concern over the surge in robberies. Louis Herbst, a prominent businessman and former ZNCC vice-president for the Matabeleland chapter, emphasized the urgent need for effective preventive measures to curb the rise in violent crime.
"Business owners and the public are extremely concerned. There is a need for immediate action and discussions to develop strategies that can protect businesses and individuals from becoming targets," Herbst said.
Herbst also stressed the importance of restoring trust in Zimbabwe's banking sector. "Banks play a vital role in the economy, and by using banking services more effectively, we can reduce the vulnerability to armed robberies. Financial institutions must not only ensure their security systems are top-notch but also offer platforms that prioritize the safety of their clients."
He also recommended that businesses invest in advanced security measures such as surveillance systems and alarm technologies, as well as cultivating a culture of security awareness among employees to recognize and report suspicious activity.
Economist George Nhepera echoed the call for businesses and individuals to store their wealth in secure banking institutions. "Banks have vaults that can keep our money safe under lock and key. Storing large amounts of cash at business premises or in homes is simply not safe," Nhepera said.
Both Nhepera and Herbst underscored the need for a collaborative approach from the Government, financial institutions, and businesses to address the root causes of crime, including the socio-economic factors contributing to the rise in robberies. By focusing on community development, education, and providing economic opportunities, they believe the country can reduce the incentives for criminal behavior.
Smart banking solutions, such as secure digital transactions and electronic banking, were also identified as key tools in reducing the reliance on cash transactions and mitigating the risks associated with carrying large sums of money.
As Zimbabwe grapples with this alarming surge in violent crimes, authorities, businesses, and individuals must work together to strengthen security measures and restore public confidence in the country's financial systems.
Source - the chronicle
