EcoCash has filed an Urgent Chamber Application at the High Court of Zimbabwe taking the RBZ to court over the recent directive to freeze accounts belonging to agents with transactions over ZW$100 000.
An illegal directive
In the chamber application, EcoCash makes the case that they were not consulted before the RBZ made its decision and outrightly states that the RBZ doesn’t have the power to suspend EcoCash agents. The court application also points out that the agents haven’t committed a crime neither has the RBZ alleged that they have making the directive illegal.
The impact on customers
EcoCash also brings up the fact that more than anything this directive will hurt ordinary Zimbabweans citing the fact that EcoCash is relied upon by 11 million Zimabweans – a signifcant portion of which is unbanked.
The document mentions the financial loss that will be incurred by agents and ordinary citizens is great and will continue to grow as long as the directive isn’t suspended.