By A Correspondent- Some Ecocash Agents are reportedly charging about 60% for every transaction conducted by their customers. These charges are outside the system hence unofficial.

The new charges mean that if one had $100 in his or her Ecocash wallet, they would get less than $50 in cash.

It is also worth noting that the charges vary for coins and notes. The coins which are now being rejected in some shops are cheaper than notes.

The Zimbabwe Anti Corruption Commission has however revealed that it is instituting investigation into the operations of Econet’s Ecocash platform which it said was fleecing citizens.

Said the ZACC:

“We are concerned about the volumes of isolated of reports we have received in connection @EcoCashZW agents manulating the cash ecosystem to their unfair advantage by selling cash & at prohibiting rates. We are aware that this practice is enabled & supported at a systematic level.

An investigation has been opened which must determine and charge the real perpetrators behind this rot. We hope that @econetzimbabwe and @ReserveBankZIM will also look into this seriously to bring an urgent and lasting solution.

We believe that in order to effectively fight corruption, all avenues that promote corruption regardless of size must be shut with urgency and we look forward to work with all stakeholders in such scenarios to actively close these pilferage opportunities.”