Slum water vendors, hawkers, beggars, sweet sellers and public toilet cashiers are cashing in on the ongoing coin shortage, reports the Daily Nation.

As retailers look for ways of guaranteeing their supply of coins, they are now forced to buy coins from hawkers, slum water vendors, beggars, sweet sellers and public toilet cashiers at the rate the seller is willing to offer.

As reported in the Nation, supermarkets are often forced to part with an additional KES 50 or more for every KES 1,000 in the form of coins.

Speaking to the Nation, Mr Victor Getono, a supervisor at one of the Ukwala branches said, “When the shortage started we would get people bring in coins without asking for anything in return. But they soon started asking for ‘something small’. In order to maintain our constant supply of coins we were forced to start buying the coins.”

Hawkers, beggars and sweet vendors go to the extent of lining up at supermarkets at night to sell them coins.

“They ask you if you want to buy coins and if you feel the rates are too high, they confidently leave because they know they will definitely find a buyer elsewhere,” said Mr Kamau, a Nakumatt supermarket staff member who spoke to the Nation.

Retailers are either required to place an order in advance, or part with double the actual amount the coins are selling at.

Steve, a waiter at a fast food restaurant, told the Nation that that one cannot find coins after mid-day if they had not booked in advance.  “The business starts at about 6am, and the people who book in advance get the first priority,” he told the Nation.

“If you want the coins, I will sell them to you at KES 100 for every KES 1,000 I give you,” a woman cashier in one public toilet told the Nation.

So, the next time you give a beggar your coins, they might actually cash it in a supermarket for double what you gave them.

Story sourced from the Daily Nation