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Cash is king in Mugabe's Zimbabwe as dollar supply dries up

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Harare - Walk into Pedzai Nyika’s furniture factory in Zimbabwe’s capital and he’ll offer a 20% discount straight away - provided you pay in cash.

He’s not alone. A shortage of banknotes gripping the southern African nation has become so dire that business are offering huge discounts to cash-paying customers and limiting the amounts they can charge on credit cards or refusing to accept them altogether.

"I am desperate. Business is very slow, so really I need to do anything I can to retain cash flow," Nyika, 46, said by phone from his office in Harare. Most fabric suppliers "only accept dollar notes, nothing else and certainly not cards."

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