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Zimbabwe: The grey economy is the real one

Takunda Moyo, 35, seems the epitome of a successful business person: he drives a sleek car, wears designer label clothes, and is never short of a dollar or two. He is part of a new class of entrepreneur - the illegal foreign exchange hustler.

5 Nov 2008

As one of the front men for the cartel that runs the business in Bulawayo, Zimbabwe's second city, Moyo is several rungs up the ladder from the people who stand on the pavements all day.

His job is to supply them with daily cash floats and communicate new currency rates to thousands of individual dealers in the city. "The foreign currency exchange business is a complex web, and all the women you see on the streets, changing foreign currency, are simply employees of a big cartel that runs the illegal black market in the country," Moyo said with a chuckle.

Read the rest of the article here