MY daughter is attending university in South Africa and I have traditionally applied for forex through my commercial bank to cover her tuition, living and accommodation expenses.
On July 6, I submitted the usual documentation and
managed to get the forex for her tuition and was advised by my commercial bank that they were making an effort to source the balance of the forex (living and accommodation expenses). We are now in September and nothing has transpired!
As part of the recently announced monetary policy, the Reserve Bank of Zimbabwe (RBZ) has taken over the responsibility of the allocation of forex for overseas students. I have been following up with my commercial bank but they have no knowledge as to when the forex will be allocated.
I have attempted to phone the RBZ but I am continuing to hit a brick wall.
My daughter and many of her colleagues are in dire straits! They are having to borrow money from well-to-do students who happen to have forex from other sources.
She has been threatened, on several occasions, with eviction by the landlord and I have been appealing on her behalf for an extension.
Some of the students have turned to immoral activities in order to survive and, as a parent, this is a very serious concern. As one can imagine, the students are psychologically affected as this is affecting their wellbeing and studies.
Could someone please shed some light? Is forex going to be made available or should I recall my daughter?