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Zimbabwe: Econet Wireless eyed for money transfer scheme

By  |  July 16, 2014

Zimbabwe’s Competitions and Tariffs Commission is reportedly investigating Econet Wireless on suspicion of violating antitrust law in its money transfer scheme.

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    The CTC is reported to be speaking with South African competition experts as Econet continues its feud with Zimbabwe’s local banking sector over the wireless firm’s mobile money transfer unit Ecocash. Zimbabwe authorities are reportedly probing Econet to determine whether the company has breached competition rules in its interactions with banks.

    According to reports, Econet refused to allow banks to access its USSD platform that allows the transfer of funds; reports say Econet required banks to use its Ecocash platform instead.

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