By Ebi kesiena
Zimbabwean politician, Linda Masarira has filed an urgent High Court application against the Reserve Bank of Zimbabwe (RBZ), challenging restrictions on citizens’ access to foreign currency for essential needs such as passports, fuel, and rentals.
According to Masarira, the crackdown on illegal forex trading has left many Zimbabweans without viable legal options to obtain foreign currency.
Masarira noted this on Friday while speaking to local media adding that under the current multi-currency system, many goods and services are priced exclusively in foreign currency.
However, access to forex through formal channels like banks and bureaux de change is severely limited. She criticizes the RBZ for prioritizing forex access for elite importers with verifiable foreign invoices, neglecting the needs of ordinary citizens who require smaller amounts for daily transactions.
To address this issue, Masarira proposes that the RBZ expand the willing-buyer-willing-seller trading system to include ordinary citizens and enhance the operational scope of bureaux de change. She also suggests collaborating with mobile money operators to act as bureaux de change, thereby enabling the public to access small amounts of forex for basic transactions.
The application is currently pending before the court as Masarira seeks to compel the RBZ to amend its regulatory framework, ensuring broader access to foreign currency for all citizens and safeguarding their rights.
