The Government has with immediate effect suspended all mobile money transactions as measures to deal with malpractices, criminality and economic sabotage.
In a statement released on Friday evening through the permanent secretary of Information Nick Mangwana, the measures will also include the suspension of all trading on the Zimbabwe stock exchange.
Mangwana said Econet subsidiary, Ecocash has been targeted by criminals to perform acts of criminality running into millions.
“Ecocash, however, which controls nearly 94% of all mobile money transactions, is the centre pivot of this problem and its resultant impact on Zimbabwe’s economy,” Mangwana said.
The measures come two days after Emmerson Mnangagwa during the burial of Stanley Nleya at the National heroes acre, warned his government will tackle “malpractices” that he said have undermined his government’s efforts to end an economic crisis.