Chinamasa grilled in Parliament over cash shortages


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HON. HOLDER: My supplementary question to the Minister is to say, irrespective of the effort that he has done, what mechanism has Government put in place in order for the banks to have credibility to ensure that the depositors know that their money is safe because right now what I am seeing out there is a nightmare. People are sleeping in the streets and 100 days have passed. Now, we are saying where are we going? Zimbabwe is open for business – [HON. MEMBERS: Hear, hear].

HON. CHINAMASA: I want to assure Hon. Holder and this august House that people’s money in the banks is very safe but you only need and I want to repeat and urge this august House to be more modern, and go along the path towards a cashless society. When you look at the number of cars using fuel, those cars are not buying cash. It is done electronically. Just see the hive of activity on our roads and shops, those shops are transacting – [HON. MARIDADI: On a point order, Mr. Speaker! The …] – electronically …

THE ACTING SPEAKER: Order, order Hon. Maridadi – [HON. MARIDADI: On a point order, Mr. Speaker. No, the Minister is going off tangent.] – Hon. Maridadi, you wait until you are recognised – [HON. MARIDADI: Yah, it is painful when the Minister is misinforming the nation.] – Order, please take your seat. You wait until I have recognised you. You do not just shoot. No, no you do not behave like that.

HON. MARIDADI: On a point of order. I wish the Hon. Minister could listen very carefully to me and to himself when he speaks. He says 96% of transactions are done electronically, that is cashless. The more reason why we must have cash, it means most of the transactions are now cashless. It means for the few transactions that require cash we must be able to have the cash. He gave Kenya as an example, Kenya does not have a cash crisis like Zimbabwe. In his admission, the Minister says we have actually overtaken Kenya in using other platforms which are not cash, more the reason why we must have cash Minister. Listen to yourself carefully when you speak.

THE ACTING SPEAKER: Hon. Maridadi, that is unparliamentary language that you are using – [HON. MARIDADI: I think when the Hon. Minister speaks, he must also listen to himself.] – Be respectful.

HON. MARIDADI: Okay, respectfully Hon. Minister, listen to yourself when you speak.

HON. CHINAMASA: Mr. Speaker Sir, I have been listening but the Hon. Member prefers also not to listen to what I said. What I said was – all our salaries in Government, $300 million of it every month is not represented by physical cash. Please get that clear. So, when you get money into a bank account you must not have the expectation that it would be paid out to you in physical cash. What I am urging Hon. Members here is that we should embrace the new culture to transact business electronically. That new culture is also good because it is a very good tool to fight corruption unlike where there are cash-based transactions.  The question Mr. Speaker Sir that I was asked …

THE ACTING SPEAKER: Order, order people to my left – [HON. MUNENGAMI: Hon. Speaker, I never spoke.] – Did I mention your name? – [HON. MEMBERS: Inaudible interjections.] – Take your seat. Do not force me to ask one of you to go out please. This is a very important question and you continue making noise, that is not fair.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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