In 2007 as inflation walloped the Zimbabwean currency, rendering it valueless, then 54-year-old Langton Musaigwa of Mataruse village west of Zimbabwe in Mberengwa district switched to cattle as his currency.
In no time, cattle became a new currency as the Zimbabwean dollar went down the drain, pounded by inflation.
"I fell sick very seriously and was no longer able to walk on my own. I had to use one of my cows to pay a local school headmaster to transport me using his car to Zvishavane to get medical treatment in 2008," she told IPS.Zvishavane is a Zimbabwean mining town located in the country's Midlands Province, south of the country.
Many Mberengwa villagers, like Musaigwa and Mupepeti, had been visited by inflation before, and they know the survival tricks. "Money, either USD or any other currency - tends to lose value at any time, but cattle, for as long as they are well-fed and regularly treated for any diseases, remain with their value, and one can trade them off when a need arises," Muchahwikwa told IPS.
"Back home, the money I send is buying cattle because when I settle back home, I don't want to suffer. As my herd of cattle increases, that also means the increase of my own worth in terms of money," Gumbo told IPS. Faced with a collapsing Zimbabwean dollar, cattle seem to have become a more stable currency than the local currency for many, like Gumbo.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lack of Zimbabwe witness protection law hampers fight against corruptionLack of Zimbabwe witness protection law hampers fight against corruption - Transparency International has said Zimbabwe is losing billions of dollars a year to corruption
Read more »
Business Maverick: Zimbabwe gives first details of new mining royalty policyZimbabwe provided the first details of how a new mineral royalty policy will be enforced, as the country considers more than doubling spending in 2023 to help revive an economy that exited a recession last year.
Read more »
Zimbabwe wants to alter terms of $3.5bn deal to compensate white farmersIn terms of the original deal, farmers who were evicted from their land 20 years ago should have received half the money in the first year, followed by four annual installments
Read more »
Zimbabwe wants to alter terms of $3.5bn deal to compensate white farmersIn terms of the original deal, farmers who were evicted from their land 20 years ago should have received half the money in the first year, followed by four annual installments
Read more »
Lions hoping to slay Dragins and turn Ellis Park into proper denLions hoping to slay Dragins and turn Ellis Park into proper den: The Lions will look to tame the Dragons on Sunday when the two meet in a United Rugby Championship (URC) clash at Ellis Park on Sunday at 4pm. The URC returns for the first time in four…
Read more »
More Lewis consumers turn to credit amid economic crunchThe retailer’s credit sales grew 16.4% in its half-year results
Read more »