‘Carry small denominations of cash in Zim to avoid getting change in bonds’
A travel management company on Tuesday warned South African business travellers to Zimbabwe to carry small denomination notes “as they will receive change in bond notes”.
These‚ Corporate Traveller said in statement‚ “cannot be used outside Zimbabwe or converted back into hard currency”.
South Africa’s northern neighbour introduced the bond note in November last year in an effort to make up for a shortfall of hard currency in the country and address issues such as the hoarding of foreign cash.
“It is unclear what effect the bond notes have on South African business travellers‚ but we nevertheless would advise that business travellers order and carry the smallest denomination of notes they can to avoid receiving a substantial amount of change in bond notes‚” said Corporate Traveller GM Raylene Pienaar.
She also advised travellers to “consider using billbacks to avoid the need to carry a large amount of cash”.
Hotel billbacks are a way for business travellers to get around paying for a hotel stay upon departure; but rather the bills get sent to a travel management company‚ which in turn invoices a traveller's company. – TMG Digital