Zimbabwe retailers and wholesalers are now required to bank cash within 24 hours, according to the country’s central bank.
This arrangement was agreed last week when the central bank also directed retailers to only issue a maximum of $20 as cashback.
The Reserve Bank of Zimbabwe also promised to provide adequate point of sales machines to enhance the use of plastic money.
It is not clear how the central bank will ensure connectivity as one of the excuses retail shops and fuel service stations often give when they want cash is that their machines are off-line.
