EcoCash agents dare RBZ directive

By Staff reporter | 06 Nov 2019 at 18:26hrs
High illegal premiums by EcoCash agents for cash-out transactions continue unabated in what the public describes as an open challenge to authorities.

They are sprouting at every corner, all competing to fleece the customer of their hard earned cash.

In their desire for money, they are mercilessly making sure they draw the last cent from cash seekers.

Even as the Reserve Bank of Zimbabwe (RBZ) issued a directive that capped the transactions, the agents have found a way to outwit the system, making sure the customer performs double transactions.

In the process, it is the customer that losses out while they line up their pockets.

Secret recordings conducted by ZBC News in and around Harare show a deep-rooted trend of making super profits out of nothing, benefitting from exorbitant premiums as high as 50 percent for cash out transactions.

As the news crew went undercover posing as customers, their investigation took them through shocking images of huge stacks of cash openly traded at Mupedzanhamo Market, one of the many places in Harare that has become a notorious haven for EcoCash agents.

Every day, faces like these endure the pain of sharing their earnings.

But it is an unfair relationship as the agents are getting closer to a lion's share.

Hundreds of thousands of dollars circulate here every day, but the source of these funds remains a mystery.



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