Banning mobile money is ridiculous-Biti

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Staff Reporter

Former Finance Minister and MDC Alliance Vice President Tendai Biti said the move by the government to ban mobile money transactions and trading at the Stock Exchange is ridiculous as they were not to blame for the socio-economic downfall.

Commenting on the issue Biti said:

“It does not make economic sense. The reason why we have a black market in the economy is not because of Ecocash or the stock exchange, it’s because we are simply not producing.

“You cannot have a government that specialises in creating difficulties for its citizens. Think of the millions of people who cannot access money in banks who rely on mobile transfers,” he said

Zimbabwe Information and Communication Technologies chairman Jacob Mutisi also concurred with Biti also said:

“This will put a dent to our crippled economy and completely shut down the nation’s biggest e-commerce platform.

“The problem in Zimbabwe is not Ecocash or mobile money fraud, externalisation or pure advanced airtime sales, but the dysfunctional government policies in general and on the fiscal and monetary policies in particular,” he stated.

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