Home Business Knives Out For Zvishavane Retailers Refusing Ecocash and Swipe.

Knives Out For Zvishavane Retailers Refusing Ecocash and Swipe.

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Legal experts have called for the withdrawal of operating licenses for retail shops refusing Real Time Gross Settlement (RTGS) payments in Zvishavane.

This comes after mobile money users in Zvishavane are in a fix as some retail shops and service stations are rejecting EcoCash and RTGS transactions.

In an interview with YAFM Radio on the station’s programme Blast Furnace on Tuesday night, Clement Mukwasi a legal expert has urged consumers to report such cases to the authorities such that action will be taken.

“When we say to our selves what is the moral standing of those that are refusing RTGS in its various forms, the moral standing is so decayed to an extent that they are not worth continuing to hold licenses to operate in Zimbabwe.

“Authorities should know who are they if they are from fuel stations, retail shops, Ministries responsible for licensing them must be told so that their licenses are withdrawn with immediate effect.

He added that it is illegal to reject any currency that the SI 142 has classified as legal tender saying anyone found refusing RTGS shall be guilty of an offence.

Speaking during the same show, the Consumer Council of Zimbabwe Executive Director Ms. Rosemary Siyachitema said it’s not lawful hence she urged customers to report such cases to the Council so that they will take action.

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The government recently outlawed the use of multiple currencies through new regulations that compel all forms of transacting to be done in local currency, now formally known as Zimbabwe dollar.

Through Statutory Instrument (SI) 142 of 2019, known as Reserve Bank of Zimbabwe (Legal Tender) Regulations, the Government abolished the use of British pound, United States dollar, South African rand, Botswana pula, and any other foreign currencies, as legal tender.

Meanwhile, Econet today warned illegal currency dealers to stop overcharging customers when doing cash-out transactions saying any person caught engaging illegal Ecocash transactions with agent lines will be brought to book.

“Do not be caught charging customers extra cash out or be involved in illegal conduct using the Ecocash agent lines. It is prohibited and will result in the revocation of the Ecocash agency license as well as heavy penalties in line with the applicable laws on money laundering,” the statement read.

This development comes as a result of Ecocash agents, shop owners and money changers placing a high rate on people doing cash out which is charged at 35% on notes and 25% on coins.


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