It’s the currency crisis, not Ecocash!

Zimbabwe’s largest mobile money transfer service operator, EcoCash is being accused of perpetuating rent-seeking and economic sabotage by exploiting cash-strapped citizens through cash out premiums, but is this accusation justified?

The service, which carters for 90% of the total adult population of Zimbabwe, handles the highest number of financial transactions per day than any other payment platform in Zimbabwe, including banks. The service is, in fact, linked to all except a negligible number among the 17 commercial banks.

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