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Prosper Dembedza Court Correspondent

Two Rwandan nationals were yesterday arrested at the Harare International Airport after being found in possession of $87 400 which they intended to smuggle out of Zimbabwe. Police chief national spokesperson Senior Assistant Commissioner Charity Charamba confirmed the arrest of the duo. “Two Rwandese were caught with $87 400 which they wanted to smuggle out of the country. Police noticed one of the accused limping and he was wearing long socks which made them suspicious. The two intended to board Ethiopian Airways. They are detained at the Harare International Airport.” she said.

This comes as the Reserve Bank of Zimbabwe has assembled a crack team to compel all businesses to bank their money in line with a strategy to enhance cash circulation in the formal system.

Zimbabwe has been battling to end cash shortages that began in April on the back of illicit financial flows, huge trade deficit and the lack of savings culture.

Point of scale and Real Time Gross Settlement charges will soon be reduced to encourage electronic transactions, while banks will be greatly involved in promoting the use of multiple currencies.

Bond notes worth $200 million will be introduced around October to help ease the situation, although quick-win strategies are already being pursued.

Authorities contend that unbanked businesses are partly to blame for constipated money circulating as they mop up cash from customers but do not inject it back into formal channels.