Mobile money platform Ecocash has lost its court case against the Reserve Bank of Zimbabwe where it was seeking an interdict to stop the central from suspending its mobile money agents.
Passing judgement on Tuesday, the High court said it cannot ‘interdict a lawful act’ citing that to rule in favour of the mobile money company will prevent the central bank from “performing its function.
In the chamber application, EcoCash had presented that they were not consulted before the RBZ made its decision and that the RBZ doesn’t have the power to suspend EcoCash agents.
