Several EcoCash agents had their lines closed yesterday as result of ongoing investigations by the Reserve Bank of Zimbabwe, according to Zimpricecheck. EcoCash and RBZ have lately been trying to curb the trading of cash by EcoCash agents and one way of doing that is blocking some agent lines.
After closing the agent lines, Cassava reportedly sent the following messages to it’s agents:
Good day team.
Please note all the other lines that were owned by the agents who were barred in September have been blocked as well pending finalization of the investigations by RBZ. The lines were barred today 21 October 2019 under reference “Under investigation. Ref EcoCash Compliance. Will await RBZ to complete investigations and call them once we have received feedback from RBZ.
On behalf of compliance team
It seems like EcoCash and RBZ are working together more than ever to remove unscrupulous agents who are proping up the black market. It took a directive, an urgent application at the High Court and another directive to get these two entities to work together to monitor and control agents.
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