As Zimbabwe Announces Bond Notes, How Can Tech Help
Monday, May 9, 2016
If you witnessed the sorry state of the Zimbabwean economy in the 100 trillion dollar note days, it’s hard to not be skeptical when the same government introduces a new note. That the note comes with the word “Bond” becomes just a technicality because the trust factor, which is very important in financial matters, is significantly eroded. So when the government this week announced the return of Zimbabwe’s own notes, the panic driven conversations this triggered are quite understandable.
For a simple FAQ on the Bond Notes, please read an informative article by The Source where they explain the $200 million Afreximbank facility and how it guarantees the notes, why the government didn’t just pump real $200 million US notes into the economy, and why the government will not recklessly print notes as they did with the Zim dollar.
As we have already written here there’s an opportunity for mobile money to help given regular Zimbabweans seem to have better faith in it than they do in regular banks some of which have shut down and taken depositors’ money with them.