Residents of Bukavu, the capital of South Kivu province in eastern Democratic Republic of Congo, are grappling with a severe cash shortage that has forced them to rely on perforated and damaged banknotes. Since the Rwanda-backed M23 rebel group captured the city in February, banks have been closed, leaving the population dependent on old notes that were originally marked for destruction. Many residents complain that businesses often refuse to accept the patched-up bills, sparking tensions in daily transactions.
The shortage has had dire consequences for families, such as that of fridge technician Alain Mukumiro, who says his family goes without food when his notes are rejected. Some residents suspect that the defective banknotes were looted from banks during the rebel takeover. On the black market, people are exchanging the notes for intact bills at a rate of about 10-to-1. Meanwhile, business owners like Zihalirwa Rutchababisha refuse the damaged currency altogether, fearing losses that would make it impossible to restock supplies.
Economic activity in Bukavu, once a vibrant hub, has sharply declined. The crisis has compounded an already dire humanitarian situation in eastern Congo, where seven million people are displaced due to fighting. While a few state employees now receive online transfers, most residents depend on cash payments from informal work and remain trapped in the chaos. The lack of a consistent policy on the acceptance of damaged banknotes has left people confused and increasingly desperate.
Attempts to address the crisis have faltered. The M23-appointed governor briefly launched an exchange scheme but was forced to suspend it after banks were overwhelmed by demand. Meanwhile, Congo’s government in Kinshasa has refused to reopen banks or supply cash to rebel-held territories, citing insecurity and international sanctions. As the stalemate drags on, residents like Mukumiro fear being abandoned by both the central authorities and the rebels, lamenting that no one is taking responsibility for their plight.