Zimbabwe’s Cash Shortage Hits Mobile Money Services
Friday, May 13, 2016
Mobile money transfer agencies in Bulawayo have in the past few days recorded low business due to the cash crisis that hit the country in recent weeks.
In separate interviews, some of the agencies from Zimbabwe’s three mobile network operators told Business Chronicle yesterday that their business was low due to limited cash.
The three companies-Econet, NetOne and Telecel run mobile money transfer services called EcoCash, Netcash and Telecash respectively.
“The whole of last week we were operating with limited cash and the business was very low. Like in my case, there are some days that I closed shop because there was no cash for me to transact,” said an EcoCash agent.