The Zanu PF Youth League deputy secretary, Lewis Matutu, has warned ECONET against abusing its Ecocash facility. Matutu argues that the abuse of the mobile financial service platform, Ecocash, is contributing to the country’s economic woes.
The youth league boss posted on Twitter and said:
@econetzimbabwe please stop what you are doing to our economy through the abuse of your Ecocash facility.
His remarks follow a January report by Zim Morning Post which alleges that the Reserve Bank of Zimbabwe (RBZ) ordered Ecocash to suspend some agent lines which they dictated to have irregular transaction patterns with some trading as much as RTGS$200 000 to RTGS$1million in a single day. Hundreds of forex dealers had their agents lines suspended and they battled to recover their money running into hundreds of thousands of dollars.
Matutu recently led the youth league in a crusade against corrupt individuals, naming and shaming them at a press conference. He announced a list of elite politicians, business people and government officials allegedly involved in money laundering and illegal fuel dealing. The list featured Zanu PF secretary for administration, Obert Mpofu and RBZ governor John Mangudya.
The list also featured ripped minister of Tourism, Prisca Mupfumira, minister of State for Presidential Affairs in charge of Implementation and Monitoring, Joram Gumbo, Speaker of Parliament, Jacob Mudenda and youthful transport and logistics mogul, Tinoda Machakaire.
More: Zim Morning Post
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EcoCash is a mobile money transfer facility which is run by Econet Wireless Zimbabwe. The facility has grown in leaps and bounds since its inception and is arguably the largest mobile money transfer agent considering the huge sums of transactions that the platform is said... Read More About EcoCash