A petition to persuade the government to look into the operations of Ecocash because it is allegedly robbing Zimbabweans of millions of dollars seems to be gaining traction but some might feel that it has nothing to do with them.
The truth, however, is that Ecocash affects you even if you do not have an account with them or even with any bank.
Last year, for example, President Emmerson Mnangagwa said the government had reined in the company after they discovered that it had created $8.4 billion in phantom money.
This was creating havoc within the market and was responsible for price hikes which affected every consumer.
Eddie Cross who was a member of the Monetary Policy Committee at the time said that the central bank had discovered that in February alone last year, 96 bulk payers had transferred $3.8 billion.
Ecocash had 75 000 agents buying foreign currency and they were paying 200:1 to the greenback which the black market does not pay even today.
The petition to take Ecocash to account was launched by John Duplessis because over 6 million Zimbabweans on the Ecocash platform lose money at least once a week from an incomplete transaction.
“To make it worse, Econet has deliberately incapacitated their customer service platform so as to frustrate those looking for refunds and eventually give up trying. The phone is never ever answered,” it says.
“Econet is making millions of undeclared profits from the money they are stealing from us every day,” the petition says. “A simple transaction reversal can take weeks if not months in some instances. Those living in the rural areas have it worse as they have less avenues to claim their money.”
The Insider has joined the petition to get more signatures so that the authorities can act on Ecocash because thousands of Zimbabweans are affected by what Ecocash does every day.
Click this link to join the petition: https://www.change.org/p/ministry-of-finance-zimbabwe-stop-econet-ecocash-from-robbing-the-people-of-zimbabwe