Zimbabwe suspends mobile money and mobile based transactions πŸ‘€

So the Minister of Information, Publicity and Broadcasting (and brother to President Ed Mnangagwa) announced today that the Zimbabwe government has suspended all mobile money banking in Zimbabwe. Interesting how it’s not come from the treasury but will definitely have an effect especially during COVID.

What are peoples thoughts?

And a link to the statement: https://twitter.com/nickmangwana/status/1276568612241891330?s=20

1 Like

Welcome to our community @stephen :wave:t5:

This is shocking! Millions of Zimbabweans rely on mobile money for essential payments within the country and to receive money from abroad. Suspending all mobile money operations at a time when people are already finding it very difficult to deal with the COVID lockdown seems like a wrong timing.

It’s important to note that a significant number of Zimbabweans in the diaspora also rely on mobile money as a means to remit money back home, so blocking this channel seems rather rash!

Hey @stephen, is this a welcome development? Zimbabwe sets the stage for launching a regulatory sandbox