More
    HomeBusinessMoney transfer agencies re-open

    Money transfer agencies re-open

    Published on

    spot_img

    Harare (New Ziana) – Money Transfer Agencies (MTAs) will re-open for business on Wednesday to enable people to access money sent by relatives in the diaspora during the lockdown period, the Reserve Bank of Zimbabwe has said.

    The MTAs had closed in observance of a 21 day nationwide lockdown put in place to prevent the further spread of Covid-19, leaving families who rely on diaspora remittances stranded.

    But following an outcry, President Mnangagwa on Monday directed the RBZ to devise ways of ensuring that people accessed their remittances during the lockdown period.

    In response, Central Bank governor Dr John Mangudya said MTAs would re-open while observing strict health guidelines meant to curb the spread of Covid-19.

    “Further to His Excellency the President’s Directive of 6 April 2020 on the need to provide critical services to the public during the national lockdown period, and in light of the feedback from the recipients of diaspora remittances, the Bank wishes to advise the public that MTAs with branches operating in retail outlets shall, with effect from Wednesday the 8th of April 2020, operate daily within the timelines prescribed for opening of retail outlets or shops,” he said.

    “MTAs owned by banks and those with own banking halls and branches outside banks and retail outlets or shops, shall open for business three times a week, that is, on Tuesday to Thursday, between 0900 and 1500hrs.”

    Mangudya said to allow for operational adjustments, the directive takes effect from Wednesday.

    “The decision in respect of the extension of the above services is to allow for the receipt of foreign currency remittances which cannot be transacted on any digital or electronic platforms,” he said.

    “In order to prevent and mitigate the spread of Covid-19, MTAs shall be required to spread remittance payout access points and to strictly observe the social distancing guidelines issued by the Ministry of Health and Child Care and the World Health Organisation from time to time.”

    According to the World Bank, Zimbabweans living abroad send back home goods and money upwards of US$1.8 billion annually.

    Personal remittances consist of all current transfers in cash or in kind received by households in the southern African nation and these make a considerable contribution to both urban and rural livelihoods.

    In 2019, Zimbabwe received US$635 million in remittances, representing a 2.6 percent increase from US$619.25 million in 2018.
    New Ziana

    Latest articles

    Zimbabwe has enough grain up to next harvest – Muswere

    Harare, (New Ziana) – The country has enough grain to last up to the...

    Vendors to get POS machines

    Harare, (New Ziana) – Vendors in the country are expected to be issued with...

    Mixed feelings over partitioning of shops into small units

    Bulawayo, (New Ziana)- A growing number of property owners in Bulawayo's Central Business District...

    Darts clubs shine at tournament

    By Terence Tikiti THE National Darts Association of Zimbabwe (NDAZ) held its National Darts...

    More like this

    Zimbabwe has enough grain up to next harvest – Muswere

    Harare, (New Ziana) – The country has enough grain to last up to the...

    Vendors to get POS machines

    Harare, (New Ziana) – Vendors in the country are expected to be issued with...

    Mixed feelings over partitioning of shops into small units

    Bulawayo, (New Ziana)- A growing number of property owners in Bulawayo's Central Business District...