RATHER than focusing on cash barons, Zimbabwe could have averted cash shortages had the country moved with technology. Having an economy that relies entirely on cash for transactions is unthinkable in the modern world considering the advancement in technology.
Activities like manufacturing, mining, farming can benefit from sound financial institutions and sound financial systems.
The problem is lack of direction and will-power to move the country forward for the benefit of its citizens and residents. There has been a tendency for people in leadership to exhibit selfishness and self-serving traits.
The cash crisis could have been averted had Zimbabwe been fairly computerised with almost everyone having access to technology like telephones, mobile phones, Internet and e-mail to say the least. Computerisation of the economy is vital if the country needs to benefit from the evolution of technology.
If the financial system is fairly developed and the country computerised, it will be easy to take advantage of plastic money and other innovative ways of effecting settlement rather than relying on cash.
It is unfortunate that Zimbabwe has lagged behind in computerisation. Unequal distribution of wealth has not helped either as it means only a few people can move with technology. Some areas are better developed than
others, a situation that makes it difficult for policy implementation. Some politicians are selfish and are not interested in bringing development to their constituents but to their homes.
Until such a time when distribution of wealth is spread to the majority it will be difficult to come up with solutions that can help improve people’s standards of living. Plastic money, like debit cards, visa cards, and online banking are convenient ways of doing business rather than using cash. However, these ways are possible when everyone has access to modern technology.