Zimbabwe pensioners face delay in payments amid currency row
Payments to 200,000 retirees on Zimbabwe’s public pensions scheme could be delayed this month, the national social security agency said, after a foreign currency dispute erupted between local banks and a payments software vendor.
Zimbabwe is battling an extended foreign currency crisis which has affected key imports such as electricity, fuel and medicines. Many firms with foreign ownership are also struggling to repatriate dividends to non-resident shareholders.
Its National Social Security Authority, a mandatory public pension scheme, said on Thursday it could miss a June 13 deadline for paying its members because a software platform it uses to make the disbursements was demanding payment in foreign currency.
“Payouts that were due on (June 13) might be delayed as the provider of the payment platform used by the banks is demanding to be paid in foreign currency, failure of which it will suspend services to them,” the authority said in a statement.
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