Central Banking

Mobile payments banned in Zimbabwe

Zimbabwe bond note

All mobile payment platforms have been suspended in Zimbabwe following a period of “instability” in the economy, according to the country’s central bank.

In a statement on June 27, the Reserve Bank of Zimbabwe notified consumers that all mobile agents had been suspended from conducting mobile transactions.

“These unprecedented measures have been necessitated by the need to protect consumers on mobile money platforms, which have been abused by unscrupulous and unpatriotic individuals and

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