Zimbabwe banned the US dollar from being used so local bitcoin demand is soaring again

https://qz.com/africa/1662753/...ource=YPL&yptr=yahoo

Bitcoin is back on the radar in Zimbabwe as the country’s economy continues to struggle.

The cryptocurrency is trading briskly here after president Emmerson Mnangagwa’s government banned the use of foreign currencies for settlement of local transactions.

It comes as Zimbabwe re-introduced the Zimbabwe dollar unit it abandoned in 2009 and banned settlement of local transactions using the United States dollar, British pound, South African rand and other foreign currencies. The government has been trying to curb re-dollarization of the economy and apparently to tame growing pressure from workers’ unions demanding salary payments in foreign currency.



Can you imagine getting $10,000 USD worth of Zim dollars when you arrive in country and then finding out at the end of the hunt that it's worth half as much as when you bought it, so you have to pay again?

I've read that they have - but I've also been in contact with Gary Hopkins since my trip in June, and while he confirms the change, it seemed like maybe dollars would still work for a lot of things....

There was another thread on here not too long ago.

I am heading to Zim in 4 weeks, so when I first heard this news several weeks ago, I became concerned.

My PH said no worries. Zim will happily take my USD to pay for my entry visa, and the inference was that everyone else will be happy to see USD as well.

Would be great to hear from someone who has just returned...

I second what tarbe said. I land on August 5 and I've been told there is nothing to worry about.
Cal

I returned from Zimbabwe last week.

During our return trip to Harare, we stopped for lunch: USD - No bueno

When we arrived in Harare, we stopped for fuel: USD - No bueno

When tipping the PH, trackers, and camp staff: USD - muy bueno

I just returned...no worries.

Just got back as well. For us as clients, no problem. For the guys living there, they are having to figure it out on the fly and it is causing some concern.

Again, from a client standpoint, no problem. Go without worry as long as you are dealing with a good outfitter.

After further conversations with my contact in Zim, I have been encouraged to bring smaller bills...50 and lower.

This is the first time I have been so encouraged, so I wonder if this is part of the figuring "it out on the fly" as Todd mentions above?

quote:

Originally posted by tarbe:
After further conversations with my contact in Zim, I have been encouraged to bring smaller bills...50 and lower.

This is the first time I have been so encouraged, so I wonder if this is part of the figuring "it out on the fly" as Todd mentions above?

I think so. If you can pay with US, you may not be able to get change back in US so the smaller the bill, the more likely you'll get close to your correct change. Buy something for $20 with a $20 and you are good to go. Buy something for $20 with a $100 and you may be out $80 in change.

I have been following a simple system everywhere I went in Africa.

I ask my host to pay for everything I want.

Then pay him for it.

They are always very happy to do this.

quote:

Originally posted by Saeed:
I have been following a simple system everywhere I went in Africa.

I ask my host to pay for everything I want.

Then pay him for it.

They are always very happy to do this.

Especially if he/she are permanent residents of either Zim or RSA.

Saeed you might just have opened other's eyes on this "settlement of accounts" - possibly on distant shores.

quote:

Originally posted by Saeed:
I have been following a simple system everywhere I went in Africa.

I ask my host to pay for everything I want.

Then pay him for it.

They are always very happy to do this.

This seems to have worked in my experience as well. That's why I stated from the client perspective in Zim right now, no worries. That said, I did hear the Zim guys speaking several times about how they were going to pay for various services in terms of bond, US, or whatever their "new" currency is supposed to be. They seem to be getting by but there is some confusion as to what is accepted, where, and when.

As I understood it, there are some exceptions that allow payment in US. The tourism sector being one that is still good to go for US currency. For example, I paid my entry Visa in dollars without question. I paid for a sandwich and Coke waiting for my departure flight with a credit card in the airport. The charge was quoted in US currency.

Bottom line is to not let the US currency "ban" affect your plans to hunt Zimbabwe as it will be a non-issue for you.

Just back from another wonderful safari in the Save Conservancy at Humani with Guy Whittall and Peter Wood. Let me shake off jet lag and I'll write a hunting report.

Currency-wise, things seem changeable. They want the $30 USA for the entry visa. The open air markets are DELIGHTED to take USA dollars. You can use US currency ($2) at the toll stations on the highway. In theory, you can use US currency to pay for lodging, although that was not an issue for me.

However, restaurants and groceries stated they could not take US currency, although the manager may be willing to take it if discussed privately. The Harare airport vendors would take US currency. But this is evolving and I would not predict what will happen next month, other than people would LIKE to get US dollars, the Zim dollar will rapidly become worthless, and the government will fiddle with this further.

Some rascal absconded with the $60 million US payment that Zim owed the South African electric companies, so the country has had very limited electricity for about 45-60 days. There was usually power at night for 6-8 hours but there was only power during the day for about two days of our 12-day stay. Almost everyone has generators, but often use them only a few hours a day due to fuel shortages. Lines at fuel stations were literally blocks long, although gasoline is still only about $3 US/gallon.