EcoCash FCA

Mobile money platforms dismiss government’s directive

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Mobile money platforms have made light work of the government’s statement which instructed mobile money platforms to suspend their services pending investigations.

In statements, EcoCash, MyCash and OneMoney said they will not suspend transactions since they didn’t receive a directive from their regulator, the Reserve bank of Zimbabwe. Therefore, customers have to continue using their platform until the central bank instructs them to suspend transactions.

EcoCash statement

Dear Valued Customers,

We are aware of a statement purporting to have been issued by the Secretary for Information, Publicity and Broadcasting Services that purport to ban all mobile money transactions.

However, EcoCash is regulated by the Reserve Bank of Zimbabwe and would naturally expect a directive of that nature and significance to be communicated by the Reserve Bank of Zimbabwe.

We urge all EcoCash users who exceed 10 million Zimbabweans, the majority of whom do not have bank accounts, to remain calm and to continue to do your lawful transactions as usual.

MyCash statement

Dear Valued Customers

MyCash continues to operate as normal, we are regulated by the Reserve Bank of Zimbabwe and we have received no such directives to stop operating. MyCash customer funds are guaranteed and all platforms are fully operational.

OneMoney statement

Dear Valued Customer,

We would like to advise that OneMoney services are still operating normally. Do not hesitate to contact us on the numbers provided below, for any queries and enquiries.

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