For small businesses like mine which require hard cash, we rely on those Rogue Ecocash Agents. Banning Cash out has worsened the situation, where I had to pay an extra 35% commission to get my cash via cash out, the agents are now requiring 100 % i.e if i send him $100 into his Ecocash wallet or Zipit account he gives me $50 in hard cash…
Its reported people are charging 100% for notes and 80% for coins. The situation was exasperated by the RBZ ban on mobile cash-in and cash-out transactions.
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.
The platform controls almost 95% of all monetary transactions in Zimbabwe.