Government to Bring in More POS Machines

With Government battling the cash crisis in the country, it is pushing ahead planning to import more Point Of Sale machines to promote wide use of plastic money, a cabinet Minister has said.

Zimbabwe, which is using the United States dollar as its chief currency, is battling cash shortages that have been triggered by a number of issues, among them high imports and externalisation.

The Government has also been promoting the use of plastic money, but this has been quite challenging because of the uneven distribution of POS machines across the country.

 

“We do not have sufficient POS machines for every part of the country.

“These have to imported, but resources are being mobilised to ensure that we distribute more POS machines,” he said recently.
Minister Chinamasa said Treasury had also engaged the Ministry of Information Communication Technology to deal with connectivity problems that sometimes affect POS transactions.

Last week, the Reserve Bank of Zimbabwe released $15 million worth of $5 bond notes into the market, bringing the total figure released in bond notes so far to $88 million.

 

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