The Reserve Bank of Zimbabwe has just approved the adjustment of transaction fees upwards by Zimbabwe’s largest mobile money operator, EcoCash.
According to reliable sources this approval has been granted this very afternoon. We are yet to get our hands on the new transaction fee schedule. Our sources have informed that EcoCash will effect the new fees starting on Monday the 27th of January. If you are observant about how much you are charged when you transact you may notice the new fees even before Monday.
Transacting in electronic money is becoming way too expensive especially because of the 2% government tax that is levied on virtually every dollar that moves electronically. Zimbabweans have no way out of these high costs because the country is basically cashless, not by design but the country just doesn’t have cash.
We will update you as soon as we have the new transaction fees.