Its share on the national payments system, for example, fell from 30 to 19 percent by value.
The company said the directives that impacted on Ecocash are:
The company said it continues to comply with all the regulatory directives as they are issued.
The government has cracked down on Ecocash after discovering that it was creating “phantom money” and fuelling the black market.
The crackdown started in April after authorities discovered that the value of Ecocash transactions in February alone was three times that of all 13 commercial banks in the country.
The crackdown on Ecocash has also resulted in the delay in the publishing of the parent company’s annual report for the financial year ending February 2020.
(95 VIEWS)
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…
The Zimbabwe International Trade Fair (ZITF) has announced an ambitious long-term plan to turn the…