Thousands Of Pensioners Stranded At Post Offices As Cash Externalisation Bites

Thousands of pensioners were stranded at the Post Office Servings Bank after failing to access money from the bank.

This comes as the country faces serious cash shortages which the Reserve Bank of Zimbabwe blames on the externalisation of  money by some unscrupulous people.

After failing to access their pensions at the POSB branches in Harare, hundreds of people, most of them elderly told the ZBC News that they had no money to go back to their respective places.

As Zimbabweans wait for the bond notes, ordinary citizens continue to suffer as they are unable to get their dues.

While sanity seem to have been restored in other banks, there is still more needed to be done with other banking institutions.

Meanwhile, legal experts say thorough investigations are needed to effectively deal with the emerging commercial crimes that have threatened the country’s economy.

Externalisation of large sums of money by some unscrupulous business people has grossly affected cash flows in Zimbabwe.

“All the people fingered in the externalisation scam must be brought to book. However, commercial crimes are complicated and require resources to carry out specialised investigations,” a legal expert and anti-corruption activist, Mr Dumisani Mthombeni said.

Another legal expert, Mr Zivanai Makwanya said there is need to come up with new legislation that addresses the emerging problems in this multicurrency regime.

“The culprits have been taking advantage of the loopholes and laxity of the country’s laws to siphon the US dollar out of the country. There is therefore need to address the problem through a new legislation,” he said.

Commercial crimes have been a challenge in Zimbabwe with most culprits being acquitted due to lack of incriminating evidence.

However the coming in of the Commercial Court is anticipated to bring a new dispensation in the management of white collar cries in the country. Source: zbc

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