June 17, 2019

Paynet tiff chokes Zim salaries

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THOUSANDS of Zimbabwean workers are failing to get their salaries as the impasse between Cambria Africa Plc (Cambria), the providers of the payment Paynet platform, and local banks rages on.


Last week, UK-listed Cambria suspended its services to Zimbabwe protesting non-payment by Zimbabwean banks which are struggling to raise the requisite foreign currency. According to its website, Paynet serves 5,800 corporate clients and 2.5 million beneficiaries.

Cambria attributes the current black-out to a US$470 000 debt owed by local banks. The firm says it lost US$170,000 in March and April 2019, adding that it would be “patently irresponsible” to continue servicing Zimbabwe. The Zimbabwe Teachers’ Association told ZTN News that its members were stranded after failing to access their salaries on Monday. A survey around the capital, Harare, revealed that pensioners have been spending nights camped outside banks hoping to access their earnings.

To counter the effects of the impasse local banks are reportedly working on an alternative software. However, such moves are not unfolding fast enough for the Zimbabwean worker who is stuck between a rock and a hard place.

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