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Zimbabwe is blaming the rise in the inflation rate across the country on mobile money, and wants to prevent the U.S. dollar taking over as the de facto currency once again. The country has declared a ban on lending by banks, shutdowns of fintechs and strict requirements on the use of mobile money in a bid to give the local currency a standing chance. In March, the local currency was trading at 210 Zimbabwean dollars for $1 and now at 400 Zimbabwean dollars for $1.

CBx Vibe:Mo Money Mo Problems” Notorious B.I.G. & Mase

Claire Obae

May 31, 2022

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