Brief 9 : multi-directional change; regulating public transport fares and payments in Zimbabwe
Date
2014-08
Authors
Journal Title
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Publisher
University for Peace Africa Programme, Addis Ababa, ET
Abstract
As of March 2009, there was the cessation of the Zimbabwe Dollar as
the nation’s currency and the introduction of multi-currencies. The shift
to foreign currency brought with it a host of foreseen and unforeseen
changes. While the economy has been stabilised, one of the challenges
of adopting foreign currency has been the scarcity of all denominations
of these currencies, particularly coinage, where there is no availability
of each amount from the smallest to the largest value. This has increased
chaos in trade, particularly in the public transport industry as there is
no fixed or regulated amount for each journey taken, partially because of the unavailability of coins for change. As a result, many public
transport users are short-changed or delays and commotion results from
the attempts by public transport operators to obtain change for their
customers.
It is necessary for regulation to the public transport industry regarding
change to be put in place. Recommendations put forward include
the adoption of regulations by the Ministry of Transport where
minibus operators are required to buy coins from vendors. Additional
recommendations are given to the Reserve Bank or National Treasury
to, through the banking sector, sell coins to public transport operators.
Further recommendations suggest the introduction of a ticketing system
to be adopted.
Description
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Policy Brief
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Keywords
ZIMBABWE, PUBLIC TRANSPORT, PUBLIC SERVICES, CURRENCY INSTABILITY, CURRENCY REALIGNMENTS, MONEY SUPPLY, MONETARY CIRCULATION, MONETARY POLICY
Citation
Mutongwizo, T. (2014). Brief 9 : Multi-directional change: Regulating public transport fares and payments in Zimbabwe. UPEACE Africa Policy Series, 1(2): 101-107.