Zimbabwe to Revive Mobile Money Service It Once Blamed for Currency Crash
- Mobile money agents banned since 2020 set to return in weeks
- Police arrest street dealers across cities over illegal trade
A smartphone screen displays the Econet Wireless Zimbabwe EcoCash mobile payment app in Harare, Zimbabwe
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Zimbabwe will allow mobile money agents, once blamed for fueling the collapse of its now defunct Zimbabwean dollar, to operate again to boost the use of its new gold-backed currency.
Econet Wireless Zimbabwe Ltd., founded by tycoon Strive Masiyiwa, state-owned NetOne and Telecel’s agents will be allowed to start operating in the coming weeks to increase the use of the ZiG and curb the unofficial market, according to a proposal by Zimbabwe’s Treasury.