By Felex Share
HARARE- The Bankers Association of Zimbabwe (BAZ) on Tuesday allayed fears of cash shortages during the festive season, saying that all banks had sufficient cash to deal with the demand associated with the holidays.
But some banks like ZB Bank First Street branch in Harare had run out of cash as early as 10am yesterday. There were fears that the old specter of cash flow problems had resurfaced following long winding queues at most banking halls in the city, as people jostled to withdraw money in preparation for the holidays.
Long queues at banks were also reported in Masvingo, Gutu, Chinhoyi and Marondera. The situation was worsened by civil servants who rushed to access their bonuses and December salaries. Banks that had long queues in Harare included CABS, Agribank, FBC, CBZ and Kingdom.
BAZ president John Mushayavanhu said people with money in their accounts would get it as there were no cash flow problems. “The money we have is enough to cater for the festive season and there should be no fear at all,” he said. Commenting on the long queues, Mushayavanhu said people should use ATMs to avoid queuing in banking halls.
“The problem with this period is that most people want to go to banks at the same time and people do not want to use ATMs,” he said. “This is despite the fact that the ATMs are open 24 hours. If fully utilised, the congestion and queues would end.” Some people said they had woken up as early as 5am to join the queues.
“It was obvious there would be long queues and I had to wake up early to join the queue. The problem is that some people are jumping queues and delaying us,” said Arnold Matikasi from Warren Park. “This is a matter the bank officials should address lest we spend the whole day in the queue.”
A teacher who phoned The Herald from Gutu said by midday most banks had not started giving cash. “We are still to make withdrawals as we are being told that the money has not yet arrived from Masvingo,” he said. “There are also reports of commotion in Masvingo and we do not know what will happen next.”
Some civil servants who did not get their bonuses last month were given their 13th cheque yesterday. Health workers who include nurses and doctors are expected to access their money today. Teachers’ Union of Zimbabwe chief executive Manuel Nyawo confirmed their members received bonuses yesterday.
He called on shop owners not to distort prices of groceries because of the bonuses.”There is this spirit of profiteering among Zimbabweans and people should desist from this behaviour if we are to develop,” said Mr Nyawo. “The money is already far below the poverty datum line and it will be disastrous if anyone tries to hike the prices.”
Prices of groceries went up last month, but have since stabilised. Public Service Association president Mrs Alexander Cecilia Kowa added: “Everyone is happy because of the bonuses and we hope the salary negotiations will be fruitful”.
Last year, Government also staggered bonus payments for civil servants with uniformed forces and the education ministry getting their 13th cheque in November, while other workers got theirs in December.
After salary increments that were awarded in July, the Government’s salary bill went up to around US$104 million per month, meaning Treasury parted with about US$210 million between November and December to cater for the bonuses. The Herald