SHORTAGE OF CASH HITS NAKONDE – BANKERS HAVE HOWEVER SAID THE SITUATION IS NOT SERIOUS

By BUUMBA CHIMBULU
The shortage of money supply in Nakonde is not as serious as it was thought to be, the Bankers Association of Zambia (BAZ) has said.

Some commercial banks and mobile facilities in Nakonde currently have no money, leading to a shortage of cash in the area while forcing those with funds to exploit and charge K100 per transaction.

BAZ Public Relations Officer, Mirriam Zimba, however described the situation as not being acute.

“We have checked with banks that have branches in Nakonde and we have established that the matter is not acute. The banks talked to have indicated that they have not received any reports from branches as regards shortages of cash,” Ms Zimba said in response to a press query.

She advised to engage the Mobile Service Providers to comment on reported shortage of cash for mobile money operators
“Or perhaps get in touch with the Payments Association of Zambia for comments relating to cash shortage for mobile providers,” Ms Zimba said.