Mobile money ban: Zim ‘has cut consumers off at the knees’


Mobile money ban: Zim ‘has cut consumers off at the knees’

EcoCash owner fights back after country’s central bank shuts down 50,000 mobile money agents

Lenin Ndebele and AFP

Zimbabwean billionaire Strive Masiyiwa has turned to the courts in a desperate bid to challenge the government’s latest decision to ban mobile money services, a devastating move that effectively excludes the majority of the population from doing business.

As the country battles cash shortages, more than 10 million EcoCash users, in a population of about 16.5 million, have been using Masiyiwa’s mobile platform for their day-to-day expenses.

The platform controls almost 95% of all monetary transactions in Zimbabwe. Since its inception in 2011, EcoCash has traded US$78bn, becoming the single largest banking institution in Zimbabwe. ..

This article is free to read if you register or sign in.

Sunday Times Daily

If you have already registered or subscribed, please sign in to continue.

Questions or problems?
Email or call 0860 52 52 00.