MOVEMENT for Democratic Change Alliance spokesperson Fadzayi Mahere has condemned the banning of mobile money operations and suspending trading on the Zimbabwe Stock Exchange.

In a statement issued on Saturday, Mahere said, the suspension is an arbitrary measure that violates the rule of law, due process and basic principles of administrative law.

Mahere said Nick Mangwana does not posess authority to issue out such a ban on regulated entities, which authority is held by the Reserve Bank of Zimbabwe and the securities regulator.

She said, the ban will have serious and negative implications on the day-to-day lives of the people, in both urban and rural areas.

The arbitrary measure affects millions of Zimbabweans who rely on mobile money services at a time when there are serious cash shortages.

“Shutting it down arbitrarily is a gross violation of people‚Äôs way of life”, read the statement.