Ecocash has gone to court challenging a directive by the RBZ banning cash out and cash in facilities on its platform. Ecocash has refused to go down without a fight. The directive is a clear attack on Econet’s business.
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It’s an urgent chamber application.
Late last month Econet was ordered to take control of the illegal and abuse of eco cash agent accounts where the agent was selling cash at a maximum of up to 60% but they seem not to have shaken up. However, the directive with immediate effect by RBZ yesterday leading to the closure of agents account at midnight y have awakened the reluctant Ecocash.
Through Ecocash’s operator Cassava Smarttech, says the Directive would force shut down the entire service and wants the court to declare it illegal.
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