War on economic saboteurs intensifies as RBZ suspends mobile money agents, merchant transactions
By Almot Maqolo
HARARE, Zimbabwe.(News of the South)- The Reserve Bank of Zimbabwe (RBZ) on Saturday said with immediate effect all mobile money agents are suspended from facilitating mobile financial transactions in line with government’s need to protect consumers from the said ‘economic saboteurs’.
This follows government’s ban of monetary transactions on mobile based money platforms.
In the same vein, all merchants transactions are suspended except for receiving payments for goods and services as well as payment of utilities (water, power and airtime) which have been limited up to ZW$5000 per day for the convenience of the transacting public.
RBZ said all mobile liquidations should be done through the banking system. Also, with immediate effect all bulk payer transactions have been suspended.
“These unprecedented measures have been necessitated by the need to protect consumers on mobile money platforms which have been abused by unscrupulous and un-partisan individuals and entities to create instability and inefficiency in the economy,” RBZ governor John Mangudya said in a statement.
“Members of the public are assured that their bona-fide transactions will be processed normally.”
The new measures evoked anger among already pressed Zimbabweans.
“That’s where you were supposed to start. Unreasonable statements cause the market to respond defensively. Macro-economic fundamentals are in short supply at RBZ. After causing confusion in the market, plus people have rushed to dispose all the money in mobile wallets,” said one twitter user.
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