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Zim Crisis: Angry Depositors 'Burn Down' Cashless Bank

As the cash crisis in Zimbabwe continues to attract more havoc, angry depositors  have reportedly burnt down Masvingo POSB branch demandin...

As the cash crisis in Zimbabwe continues to attract more havoc, angry depositors have reportedly burnt down Masvingo POSB branch demanding their monies. 

Unconfirmed reports said the branch ran out of cash with scores of people in the queue.

"Angry depositors have burnt POSB Masvingo after being told that there is no money," reads a note sent to the media.
Fire Brigade at Work 

The continued cash crunch, coupled with mixed communique by the apex bank, Reserve Bank of Zimbabwe has fueled confusion further leading many to spend night on queues in a bid to withdraw their hard-earned cash

In the past month, banks have been experiencing cash crisis - while some have reportedly imposed a $100 daily withdrawal limit.

The finance ministry has lined up a cocktail if measures to stem the crisis, among them the use of plastic money, reducing bank charges, instructing multi-currency to operate and the an imminent introduction of Bond Notes.

However, the source of the fire could not be independently verified as other tenants are also housed within the premises including Telone and other small players.

More details to follow...

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