Published: 07 August 2013

THE cash crisis which rocked Bulawayo on Monday eased yesterday as affected banks moved with speed to suspend limited withdrawals.

On Tuesday Afrasia-Kingdom and the People's Own Savings Bank (POSB) ran short of cash, forcing the financial institutions to limit cash withdrawals.

But yesterday, it was business as usual although there were long queues especially at POSB after a disrupted service on Monday.

The bank on Monday attributed the move to the unavailability of suitable denomination notes.

According to the bank, the old notes currently available in circulation increase the frequency of ATM breakdowns resulting in service disruption.

The bank also blamed the cash shortage on what it said was high demand during the polling day, July 31.

Yesterday officials in the banking sector hinted that the run for withdrawals was because of the jittery atmosphere over a pending Zanu-PF government which controversially won yet another election in which President Robert Mugabe garnered more than 61% of the votes.
- southerneye

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