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EcoCash Closes More Agent Lines

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 […]

Breaking: RBZ Restores Cash-in And Cash-out But With Restrictions

Here is the directive from the RBZ: The Directive (NH 01/2019) on cash-in. cash-out and cash.back facilities was issued to protect the transacting public from some mobile banking agents leveraging and abusing the payment ecosystems. Payment systems by their name play an important role of providing a mechanism or highway to facilitate economic activities in […]

The Politics Of EcoCash, EcoCash Agents And Selling Cash

EcoCash, its agents and the RBZ are collectively the most topical subject in Zimbabwe right now. Taking a closer look at the saga which culminated in the Reserve Bank of Zimbabwe banning cashing in and out of mobile money platforms reveals the politics of the situation: First the economics The summary of the situation in […]

Cash Now More Expensive On The Streets Since The Cash-in, Cash-out Ban

Our prediction that the irrational ban on cash-in and cash-out for mobile transactions would make things worse has just been confirmed. The price of cash on the streets has just gone up. This is one of the times when one is actually sad that they were right. According to a survey done by ZimPriceCheck, the […]

RBZ Ban On Cash-in & Cash-out Will Make Things Worse

Kutsvaga kweashaya, kutsvaga uta nemugate. That’s a Shona proverb which translates to “The frantic search of someone who has lost something and has no hope of finding it, s/he will look for a hunting bow even in a clay pot.” This is very descriptive of Zimbabwe’s government and central bank. Everyone else’s fault but the […]

Strive Masiyiwa’s Comments On EcoCash Agents Selling Cash Are Hypocritical

By Francis Chiwunda So Strive Masiyiwa recently responded to the raging debate on EcoCash agents charging premiums when people cash out of their mobile wallets. I don’t agree with his reaction to this issue and here are my thoughts: A friend said this and I sort of agree with him, This is how monopolies fall; […]

Masiyiwa On EcoCash Agents Selling Cash, “Whose Cash Are Agents Selling?

The issue of EcoCash agents selling cash has been topical lately. Some are issuing out ultimatums and even a cabinet minister is threatening the EcoCash CEO with arrest. Arrest for what is the question. The anti-corruption commission has called this corruption. Really? Strive Masiyiwa has given his thoughts to this whole fiasco as he responded […]

ZACC To Investigate EcoCash And Its Agents For Selling Cash

Zimbabwe’s Anti-Corruption Commission has said like you and me, they are not particularly pleased with what EcoCash agent’s and the EcoCash system has become. The issue of selling cash by agents has caught the attention of the Commission which has opened an investigation looking into this (took them long enough). The commission sent out a […]

We Have Shut Down Over 1000 Agent Lines For Selling Cash – EcoCash

EcoCash agents are now infamous for selling cash (charging higher cash-out rates) to customers. In a way, they are the heartbeat of the currency black market. But unbeknownst to them, EcoCash has been monitoring them to see who has been charging “fees outside the regulated charges”. As result, mobile money platform has closed down over […]

RBZ Troubled By Agents Selling Cash

The Reserve Bank of Zimbabwe (RBZ) says that it’s troubled by agents selling cash (through charging higher charges) and its working on a solution to curb this practice. According to The Herald’s report, RBZ Head of Oversight and Risk Management Douglas Muranda said: The issue of high (cash out) charges is giving us headaches too. […]