HomeBusiness DigestZimbabweans earn paltry US$3,50 a day

Zimbabweans earn paltry US$3,50 a day

ABOUT 60% of Zimbabwe’s seven million adult population, aged 18 years and above, earn below US$3,50 a day, a research has revealed.

Taurai Mangudhla

This is less than a fifth of the country poverty datum line which stood at US$511 early 2014 for a family of five.

According to a 2014 FinScope Consumer Survey Zimbabwe 2014, 76% of the country’s adult population earn less than US$200 per month, while 7% has no income at all.

The report shows farming remains the main source of income, accounting for 36%, followed by salaries and wages at 14% and self-employment and piecework both at 10%.

The level of poverty in the country is on the rise as 44% of the population had to skip a meal because of lack of money for food in 2014, up from 29% in 2011, while 37% of the population had to go without treatment or medicine due to lack of money in 2014, up from 20% in 2011.

The survey shows 36% of the population has been unable to send children to school because of lack of fees and uniforms in 2014, up from 25% in 2011.

On basic amenities, the report shows 29% of the country’s population has access to piped running water, down from 35% in 2011 while access to electricity for cooking remained flat between 2011 and 2014 at 29%. Financial inclusion has increased by 17 percentage points from 60% in 2011 to 77% in 2014 mainly due to mobile money services.

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