THE Reserve Bank of Zimbabwe (RBZ) has been on a war path against EcoCash, one of Africa’s successful mobile money service.
We will not go into detail on the failings of RBZ on financial oversight for the country but I will narrow down to the EcoCash story.
After that move, which is not clear whether it’s meant to target the agents or the EcoCash business, one of the biggest tax payers in the country and one of the best channels for collection of revenue for government from the informal sector.
For those, who may not understand mobile money in detail, all money that comes into EcoCash, comes through the banking system.
Other countries have higher limits per single transaction than an EcoCash agent is allowed in a month!
