Ecocash Effects The 5cents Charge Against Tax

Wilson Mtetwa
As we previously reported during the last year budget, Econet has announced that it has effected the 5cents levy on Tax effective 1 january 2014.

Ecocash has announced via a text message that the users will now be charged the extra fee announced by the finance minister, Hon Patrick Chinamasa.

Ecocash Tax
This figure is a fixed blanket charge, across all transactions, be it small or huge transactons that shall be made.

The extra fee comes on top of the already high tarrifs being charged by ecocash on their current charge sheet .

Econet announced that it reached 2,3 million users backed by their agency network of 700 agencies and still growing.

The fact is government here is the biggest winner as Econet is merely collecting the funds on their behalf and passing on the newly introduced charge.
The Zimbabwe government introduced the move against the large unbanked populaton, as it seeks more revenue streams to beef up its coffers as millions of users are preferring mobile money as a quick and convenient way to transact,.

Last year TechnoMag reported that MORE than $1 billion exchanged hands through the Econet Wireless mobile payment platform in the first nine months to September as the country’s formal banking sector pushes for more financial inclusion, Reserve of Zimbabwe governor Gideon Gono has said.

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