Tech & Biz

Zimbabwe Inflation: Poor Millionaires

by Jordan Yerman | December 24, 2008 at 09:52 am

854 views | 12 Recommendations | 7 comments

Below is the story of a man who just cannot spend his $100 million... of course, those are Zimbabwean dollars we're talking about, and Ray Mwareya is victim to the latest knock-on effect of Zimbabwe's rampant inflation: no change for the Z$100 million bill.

Each of the commuters held a red Z$100-million note, but complained that despite their newfound riches they could not afford the Z$1-million taxi ride home! I thought they were being illogical until a young retail assistant uttered to me the words: "Change, buddy."

I decided to take a laidback walk to the nearby Nandos and buy two loaves of bread and tea. After a short wait in the queue the bill came to Z$30-million. When I produced my red Z$100-million, the cashier frowned and looked aside.

"We don't have change, mukoma [brother]. Your money is too big. Next!" she said, stuffing small notes from the till into her handbag. I dropped the goods back on the shop's empty shelves.

He tries to drown his sorrows, but to no avail:

"Ray, I can serve you," said the barman, smiling. "But if you buy one beer, I won't have the Z$80-million change you'll need."

Money-changers have moved from foreign currencies to domestic: snagging a commission for changing the new, unwieldy bills.

For this you paid: the streetboys were pocketing Z$20-million a time. "It is up to you to take up our deal, shamwari [friend]," bellowed the leader of the street dealers, "or you can walk home with your red Z$100-million note in your pocket."

0 See all footage | View Slideshow

Share: email story | add to any | | facebook | stumbleupon

recommend This comment thread is now closed

Paschen

at 09:53 on December 24th, 2008

Poor in deed ...

Windpomp

at 00:15 on December 25th, 2008

This is 100 billion zimbabwe dollars. Equal to about 1 euro. In Zimbabwe you can also just about afford a bread with this. Interestingly, according to the reserve bank of Zimbabwe you are only alowed to withdraw 500 000 dollars per day. Now you know why on Dec 4 2008 so many soldiers were in uproar in the streets of Harare. Truly a desperate situation created by Robert Mugabe, one of the worst dictators Africa and the world has seen.

Windpomp has contributed a photo to this story.

Mixtribe

at 05:42 on December 25th, 2008

Free　Zimbabwe

Mixtribe has contributed a photo to this story.

158

at 07:49 on December 25th, 2008

$20,000,000 for a beer??

ignatius..

at 16:11 on December 26th, 2008

What a sorry state of affiars for Zim..

And South Africa and the other neighbouring countries should hang their heads in shame for not dealing with Mugabe in a stricter manner...

ignatius.. has contributed a photo to this story.

zvichapera (not verified)

at 03:43 on January 4th, 2009

hameno vakomana i think the world is enjoying this and they realy want to see how far it can go, so that they will have something to write in their history books, you think if they realy wanted to take action they could fail??hameno guys but i think we Zimbabweans are also to blame cause we are allowing this to happen,if we could all come together and stand up with one voice taikunda but HEY kunevanhu vakawoma musoro

MIKE NELSON (not verified)

at 02:43 on August 17th, 2009

I will not advise any country to stand and help the ZIMBABWE situation.They started their problems and let them solve it themselves.When they cannot see food again,they will rise up to fight THE STUPID ROBERT MUGABE and tear him into pieces.They still have food, thats why they are sitting, looking at the future of their children in one mans hands.

I do not advise anyone to help...The NIGERIAN GOVERNMENT AND OTHER AFRICAN COUNTRIES helped SOUTH AFRICA to get to where they are today..how do they pay then for the help...they fought with fellow Africans who are trying to survive in South Africa there.....

The Nigerians spent $1Million Dollars daily on SIERRA LEONE and LIBERIAN wars for 10 good years..how did they pay back...? We are their BEST enemies today...they accused us for looting their country during the wars.

Please tell me...,whose fault was it...they should have known that wars go with looting ...even though i do not agree that our soidiers looted anything there...but looting is a legal rights in wars.They did not talk about how many soldiers died,how many fatherless and widows the LIBERIA AND SEIRRA LEONE wars left in Nigeria.

Anyone trying to help Zimbabweans is GREAT FOOL IN CAPITAL LETTERS....!