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Tag: Ecocash takes RBZ to court

EcoCash Has No Right To Represent It’s Agents Before The Courts – High Court

So yea the urgent High Court application made by EcoCash to reverse a directive given them by the Financial Intelligence Unit of The Reserve Bank of Zimbabwe has been thrown out. The first stumbling block EcoCash fell on is that according to the court they had no skin in the game. The issue One of […]

Breakdown Of 4 Charges Leveled Against EcoCash, Its CEO And The CEO Of Its Parent

The Financial Intelligence Unit has its daggers drawn against EcoCash. The unit’s Acting Director General wants his pound of flesh and he’s not taking any prisoners. Background Zimbabwe’s currency is tanking on the only market that matters in this country: the parallel market. This is not coming as a surprise to anyone except maybe the […]

EcoCash CEO & Cassava CEO Charged Under Anti Money Laundering Law

Here is a long letter charging EcoCash, its CEO- Natalie Jabangwe and Director (CEO of its holding company, Cassava Smartech) of crimes under Zimbabwe’s anti money laundering laws: OVERVIEW We write to advise you of the Financial Intelligence Unit (HU)’s intention to penalize: (a) Ecocash (Private) Limited (Ecocash); (b)Natalie Jahangwe, Ecocash Chief Executive Officer; and […]

RBZ Ignored Warnings About Suspicious EcoCash Agents For Months

Most people were surprised by the Zimbabwe central bank moves to instruct EcoCash to freeze the accounts of all agents that process transactions above ZW$100,000 (about USD2,000 or USD4,000 when you use the generous official exchange rate) per month. $100k is a crime The problem with this directive is that it is just a blanket […]