Golden season for an ‘overlooked’ industry
The women exchanging money at the Mozambican border were in for a busy month.
KOMATIPOORT – The festive season usually brings a massive financial influx for most businesses. Others slave away during the year to spend summer on the beach. Both these reasons mean there would be no rest for the women exchanging money at the Mozambique border.
“I’ve never been in Mozambique and I’ve been exchanging money at the border for eight years.”
Sarah* is a single mother of four. She sports a shiny golden necklace and freshly manicured nails. “Business is always good in December. However, this year has been quieter than others.”
She is one of approximately 40 women at a filling station in front of the Lebombo border who storm cars as drivers pull in to “sell their money”. Their rand-to-metical exchange rate is 2,8 where that of banks is about 2,6.
Their metical-to-rand exchange rate is 2,95, which is how they gain their money back. The exchangers check the Internet for current rates.
When asked about the legalities of their trade, Sarah scratches her newly inserted weaves, looks away and smiles. “I think it’s legal. Actually, the police just close one eye because they know we have to take care of our families.”
Curiously, only female traders can be seen at exchange points before the border. “At the border there are men and women and on the Mozambican side there are only men.”
She doesn’t know why it works that way, but traders of each section respect one another’s territory. “We don’t go to the border and the men don’t come here.”
There are approximately 250 traders surrounding the border between South Africa and Mozambique. Because the competition is so tight, crooks are rife. “They fold the money in half or move their hands so fast to hide it. So you think you are buying 2 600 Mt with your R1 000 but only get 2 400 Mt. It will never stop.”
The day before Christmas, Sarah turned about R50 000 into meticais. She will only know her true turnover once tourists return from their holidays with extra meticais.
*Pseudonym used to protect subject’s identity.
