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Published On: Wed, Oct 26th, 2016

Bond notes fear escalates as shops reject plastic money

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Some retail outlets are reportedly refusing payments in plastic money amid fears that their foreign currencies in bank accounts will be converted into controversial bond notes.

Instead they are demanding cash payments, Zimbabwe National Chamber of Commerce (ZNCC) chief executive, Christopher Mugaga said.

He said Reserve Bank of Zimbabwe Governor John Mangudya will clear the air on Thursday.

On his part, Mangudya said “There is no relationship between plastic money and bond notes.

“The two are, instead, alternatives. Any money in the accounts can be spent through plastic money”.

Bond notes are due to be introduced early November in denominations of $2 and $5 bills.

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