HARARE, Zimbabwe (AP) — After protests brought Zimbabwe’s capital to a standstill earlier this month, Harare has returned to its normal bustle and Tedius Marara is back to his daily business: selling cash at a busy market. With inflation soaring and cash in short supply, many Zimbabweans transfer funds using their mobile phones and pay a premium to get currency. Marara is one of many cash vendors doing a roaring trade. People huddle around his wooden stall, one eye on their mobile phone screens and another on a small counter brimming with coins. “These are my banks nowadays,” said Mishy Tshuma, a customer referring to her mobile phone and the makeshift stall. To get cash, she has to pay Marara on a transfer by her phone and pay a hefty premium. And in a country where cash is king, she has little choice but to pay the extra amount. Tshuma said she has to transfer 135 Zimbabwe dollars from her bank through her phone to get $100 Zimbabwe dollars in cash, and that is for coins. For notes, the premium jumps to 40%. Like many things that are in short supply in Zimbabwe, such as electricity, water and gas, cash… Read full this story
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