hard-boiled egg index: surviving zimbabwe’’s hyperinflation

Hard-Boiled Egg Index is a true story on the struggles Kudzai Gumunyu and most Zimbabweans went through during the record- and heart-breaking hyper-inflationary period in Zimbabwe. Though saddening, the story is told in a humorous and vivid way detailing how Kudzai had to adjust to the effects of economic meltdown. Zimbabwe's inflation rate reached a mind-boggling 89.7 sextillion percent by 2008 and US＄1 was worth 3 nonillion Zimbabwean dollars had the Central Bank not debased the currency three times with twenty-five zeros. The ZWD100 trillion became the highest denomination on the planet. Before the crazily denominated notes, money was being carried in wheelbarrows and grain bags and the purchased item in your hand due to rapid loss of value. Every day became a struggle from shortages of foodstuffs, collapse of services, bank queues, as well a salary that could not keep up with inflation. The writer also gives the life and economic lessons learned, which can be useful to other countries navigating similar economic minefields. It ends with a positive outlook for the country and the hope that the Jewel of Africa (Zimbabwe) will sparkle again given its educated and competent human capital, abundant and rich mineral fields, tourist attractions, rich agricultural lands aided by a favorable climate, as well as, recently, a change of leadership.

Kudzai Gumunyu grew up in rural Zimbabwe and holds a BSc. Agricultural Economics degree and MBA from the University of Zimbabwe. His passion is Agribusiness Finance with emphasis on financial inclusion and impact investment that target and improve small holder agriculture. His experience in Zimbabwe’s economic meltdown enables him to tell a story on how economic challenges affected people’s lives and how poor decisions destroyed a vibrant economy. Kudzai has worked in Zimbabwe and Nigeria in the banking industry impacting both large and small scale Agribusinesses positively. His vision is to see an Africa that can feed itself and compete favorably among the family of nations through digital innovation that can leap frog Africa from where it currently stands. He is married and has three children.