In a shocking development, Ecocash has revealed in their court papers that they will be forced to shut down the entire system in order to implement the RBZ directive banning Cash-In and Cash-Outs.

Other arguments in Econet’s urgent Court Application by Mtetwa and Nyambirai Law Firm include:

  • Cash-In and Cash Out are legal in Zimbabwe as part of the NPS
  • Cash-In and Cash-Out are a key part of the Ecocash System
  • RTGS has not been asked to stop Cash-In and Cash-Out
  • Selling Money in the RTGS system is actually worse than on Ecocash
  • The Directive will harm innocent Customers ( Loss of Life, loss of Business)
  • Cash-In and Cash Out only make up a small part of the Ecocash Transactions

Read the full Application here

Ecocash Urgent Court Application - Full Document