INFORMAL traders in Bulawayo say the scarcity of Zimbabwe Gold (ZiG) notes and coins has impacted on their businesses as they have no point of sale devices.
Zimbabwe introduced the ZiG currency in April this year to replace the now demonetised local currency that had been battered by inflation and rendered worthless.
Authorities have been drip-feeding the ZiG into the market saying they fear it may be abused by money changers and become worthless.
Informal traders, however, say this has resulted in them losing customers to established businesses that offer the convenience of swipe machines.
Bulawayo Streetwise Informal Traders Association director Percy Mcijo told Southern Eye that the shortage of ZiG coins and notes is making the lives of vendors difficult.
“Informal traders do not have swipe machines and this is affecting how they trade,” Mcijo said.
“This has in a way slowed down their business.
“There is a big problem because informal traders are now chasing the few rand and US dollars in the market.”
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Tendewukai Ndlovu, a vendor in Nketa 9 high-density suburb, said her regular customers had resorted to buying on credit.
“This is because they have no hard cash,” she said.
“They end up taking goods, especially those that are perishable, on credit.”
The Reserve Bank of Zimbabwe recently said it had issued enough notes and coins to meet market demand.
ZiG is backed by cash and gold, according to monetary authorities.
