EcoCash takes RBZ to court over closure of EcoCash Agent lines

Cash out at EcoCash Agent

EcoCash has taken the Reserve Bank of Zimbabwe to court over the central bank’s directive to close EcoCash agents’ lines.

In the filed court papers, EcoCash says that on the 4th of May, RBZ instructed it to shut down EcoCash bulk lines that process transactions worth $100,000 per month. A statement by EcoCash in the filed papers read:

On 4 may 2020 the Responded (RBZ) issued a directive to the Applicant (EcoCash) whose effect is the Applicant(RBZ) must susspend and freez the Ecocash accounts of Agents whose transactional values exceed ZWL$100 000 per month. The Responded (RBZ) further placed a conditon that those affected Agents who wanted to continue with agent business must reapply and the applicationwill be subject to confirmation.

EcoCash is arguing against this directive by saying that RBZ didn’t consult them and their agents before issuing the directive considering that many people rely on the EcoCash service.

Given this, EcoCash is asking the court to suspend RBZ’s directive until the two parties sit down together to discuss and try to find a common ground.

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