Local News

EcoCash given 48 hours to rein in its agents

THE Chief Executive Officer of EcoCash Zimbabwe, Ms Natalie Jabangwe, has been given 48 hours to sort out the situation where unscrupulous EcoCash agents are charging as much as 60% for cash out, leading to a massive erosion of EcoCash balances and undermining President Mnangagwa’s Vision 2030.

The National Business Council of Zimbabwe in a letter to Jabangwe said should EcoCash fail to rein in their agents within the two days, further action will be taken.

“What your organization is doing undermines all efforts that the President is advocating for,” reads the letter to Jabangwe, who is also a member of the Presidential Advisory Council.

“The continued impoverishment of our people by EcoCash this fly in the face of a nation that seeks to achieve an upper middle class economy by 2030.”

There has been an outcry from members of the public that while cash is not available in the banks, it is readily available at a premium at EcoCash agents.

EcoCash has previously called upon members of the public to report unscrupulous practices by their agents.

EcoCash is the largest mobile money platform in Zimbabwe, accounting for over 90% of all domestic transactions.

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