Shaping Zimbabwe’s Digital Future: Mobile Payments and Telecoms Regulation

As Zimbabwe’s digital landscape continues to grow, the regulatory environment for mobile payments and telecommunications is becoming increasingly vital. During the high-tech plenary session at TechnoMag’s 10th Anniversary, representatives from Potraz (Postal and Telecommunications Regulatory Authority of Zimbabwe) and the Reserve Bank of Zimbabwe (RBZ) will discuss the challenges and opportunities shaping these sectors.

Mobile payments, which have gained popularity across the country, have transformed financial transactions, particularly for those without access to traditional banking services. Platforms like EcoCash, OneMoney, and Telecash are central to this shift. However, this growth comes with challenges, including fraud, money laundering risks, and the need for consumer protection. The RBZ has worked to regulate mobile payment services, striving to balance innovation with financial stability, while also tackling issues such as cybersecurity.

Potraz, overseeing Zimbabwe’s telecommunications sector, plays a key role in regulating mobile network services and digital communications. As mobile services expand, the demand for mobile data and internet services grows, presenting both opportunities and obstacles. Potraz’s policies focus on ensuring fair competition, affordable pricing, and broad access, especially in rural areas, but infrastructure challenges and network congestion remain ongoing concerns.

Both Potraz and the RBZ face the challenge of keeping regulations current as technology evolves rapidly. Balancing market growth with consumer protection is crucial for creating a sustainable digital economy. With economic factors like inflation and foreign currency shortages also impacting the sector, the need for flexible and adaptive regulatory frameworks is more critical than ever.

The TechnoMag session will offer valuable insights into how regulators are navigating these complexities to ensure that Zimbabwe’s mobile payment and telecoms sectors remain stable, secure, and inclusive as they continue to drive the country’s digital transformation.