EcoCash Agents association

Lesson learnt from EcoCash vs RBZ court ruling is that EcoCash Agents should now form an association

EcoCash and its Agents have something valuable to take from yesterday's High Court ruling which saw the largest mobile money company failing to overturn a Reserve Bank of Zimbabwe Directive that blocked its Agents' accounts. Justice Webster ruled that he saw no "lawful reason" for EcoCash to seek the suspension of RBZ's Directive when the … Continue reading Lesson learnt from EcoCash vs RBZ court ruling is that EcoCash Agents should now form an association

High Court of Zimbabwe

EcoCash lose case against RBZ to unfreeze Agents’ accounts

EcoCash's bid to unfreeze the accounts of its Agents has failed after losing their case against Reserve Bank of Zimbabwe in the High Court. Two weeks ago,the largest mobile money operator asked the High Court to overturn a RBZ directive which blocked EcoCash's Agents' accounts who could move at least ZWL$100 000. EcoCash sought to … Continue reading EcoCash lose case against RBZ to unfreeze Agents’ accounts

Cash out at EcoCash Agent

RBZ’s Financial Intelligence Unit speaks on banned EcoCash agent lines

In a statement dated 19 May, The Financial Intelligence Unit (FIU) said the recent banning of some EcoCash Agent lines was meant to urge EcoCash to re-register and update its Agents' Know Your Customer requirements. As a result, Agents who have queries or want to reopen their lines should direct their queries to EcoCash but … Continue reading RBZ’s Financial Intelligence Unit speaks on banned EcoCash agent lines

EcoCash and OneMoney

EcoCash and OneMoney ordered to block suspicious agent lines

As expected, EcoCash and OneMoney have started to block suspicious agent lines. The message below shows that the directive has come from the Financial Intelligence Unit which, yesterday,instructed banks to freeze bank accounts of 123 mobile wallet agents. Dear Partner. Please be advised that we received a directive from Financial Intelligence Unit to bar your … Continue reading EcoCash and OneMoney ordered to block suspicious agent lines

Reserve Bank of Zimbabwe building

RBZ orders banks to freeze bank accounts of 123 EcoCash and OneMoney agents

The Reserve Bank of Zimbabwe,through the Financial Intelligence Unit (FIU), has issued a directive instructing banks to freeze 123 bank accounts owned by certain EcoCash and OneMoney agents. FIU is an organization set up by RBZ to investigate and stop money-related crimes in Zimbabwe. FIU says owners of the bank accounts are suspected of engaging … Continue reading RBZ orders banks to freeze bank accounts of 123 EcoCash and OneMoney agents