Zimbabwe’s Secretary for Information Nick Mangwana released a press statement on 26 Friday, June which stated that Mobile money transactions were being suspended.
Government has, with immediate effect, undertaken a series of prudent and coordinated interventions to deal with malpractices, criminality and economic sabotage perpetrated by the “wolves in sheep skins amongst our population” that His Excellency the President alluded to during his official address on the occasion of the Hero’s burial of Cde Stanley Nleya (Gagisa) at the National Shrine.
These measures include the suspension of all monetary transactions on phone-based mobile money platforms in order to facilitate intrusive investigations, leading to the arrest and prosecution of offenders.
Extract From the Satement
However, Zimbabwe’s largest mobile payments platform EcoCash which has more 10 Million users has released their own statement in response to the statement released by Nick Mangwana where the company urged its users to continue their day to day transaction with EcoCash until they get such a directive from the Reserve Bank of Zimbabwe directly.
Here’s the EcoCash Statement:
Dear Valued Customers,
We are aware of a statement purpoting to have been issued by the Secretary of Information , Publicity and Broadcasting Services that purpots 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 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 lawfull transactions as usual. Should there be any changes, we shall give you adequate notice as required by law.
Dear Valued Customer,
— EcoCash Zimbabwe (@EcoCashZW) June 26, 2020
The statement from EcoCash practically explains that mobile money transactions and specifically EcoCash will only be suspended if the company gets a directive from their regulator the Reserve Bank of Zimbabwe and not through channels which they deem improper.