March 23

Zimbabwe’s Lack of Cash for Once Is a Good Thing

By Ray Ndlovu

Zimbabwe’s severe cash shortage is providing the impoverished southern African country with some relief in the fight against the coronavirus: One less way of spreading the disease.

About 90% of transactions are done digitally after an economic collapse caused foreign currency and local bank notes to dry up. While Zimbabwe only has two cases of Covid-19, the government has declared a national emergency as an outbreak could overwhelm the health system in a nation battling shortages of everything from fuel to food.
Photo courtesy of Kay McGowan / USAID.

Source: VCCircle (link opens in a new window)

Coronavirus, Finance
digital finance, fintech, mobile finance