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Mobile Money Ban - Zimbabwe ‘Has Cut Consumers Off At The Knees’

Zimbabwean billionaire Strive Masiyiwa has turned to the courts in a desperate bid to challenge the government’s latest decision to ban mobile money services, a devastating move that effectively excludes the majority of the population from doing business.


As the country battles cash shortages, more than 10 million EcoCash users, in a population of about 16.5 million, have been using Masiyiwa’s mobile platform for their day-to-day expenses.

The platform controls almost 95% of all monetary transactions in Zimbabwe. Since its inception in 2011, EcoCash has traded US$78bn, becoming the single largest banking institution in Zimbabwe.
Mobile Money Ban - Zimbabwe ‘Has Cut Consumers Off At The Knees’

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