Zimbabwe: Ecocash Responds to Govt Ban on Mobile Money Transactions

Econet offices in Harare.
27 June 2020

Ecocash who runs the biggest mobile money platform with over 10 million users has urged its customers to remain calm and continue transacting saying the recent announcement by Secretary for Information, Publicity and Broadcasting Services was factually wrong as they were registered with the Reserve Bank of Zimbabwe.

In a statement to its customers, Ecocash said such directives only come from RBZ which has not communicated anything to that effect.

"We are aware of a statement purporting to have been issues by the Secretary for Information, Publicity and Broadcasting Services that purports to ban all mobile money transactions.

"However, Ecocash is regulated by the Reserve Bank of Zimbabwe and would naturally expect a directive of that nature and significance to be communicated by the Reserve bank of Zimbabwe.

"We urge all our Ecocash users who exceed 10 million Zimbabweans, the majority of whom do not have bank accounts to remain calm and to continue to do your lawful transactions as usual. Should there be changes, we shall give you adequate notice as required by law," said Ecocash.

Yesterday, government through Permanent Secretary of Information, Publicity and Broadcasting Services Nick Mangwana announced an immediate ban on all mobile money transactions accusing the platform of breeding inflation.

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