There are unconfirmed social media reports that a syndicate has been caught at the border post trying to smuggle $4 million out of Zimbabwe. It is also reported that they had 100kgs of gold. This is a developing story and will be updated as and when we get new information.
Zimbabwe has grappled with cash shortages since April 2016, largely due to externalisation and the hoarding of money. Reports suggest that roughly US$3 billion was externalised to Mauritius, the Far East and Botswana between the period of 2015 to 2017.
Wallets have been rendered useless in Zimbabwe as the country runs out of cash, with banks disbursing $100 in the form of 50-cent coins to each desperate client as the troubled economy plunges into severe crisis.
To get their hands on a bagful of pseudo-currency ‘bond’ coins, clients must queue for up to 4 hours while others have slept in overnight queues outside banking halls.
Robert Zhuwao also posted pictures realting to the incident and said, “The country is bleeding and some are said to be trying to smuggle $4 million out of the Zim. Not right 😡😡😡. Also said to have had 100kgs gold.”