Zimbabwe cracks down on mobile money to discourage US dollar uptake ...Middle East

Quartz - Economy
Zimbabwe cracks down on mobile money to discourage US dollar uptake
source : Quartz ( Middle East ) () 44
Zimbabwe is cracking down on its mobile money sector through a wave of regulatory chokeholds, including shutdowns and strict requirements to by-pass agent networks for US dollar cash-in and cash-outs from mobile wallets.It’s a familiar story in Zimbabwe, that of a US dollar shortage, with citizens willing to pay a premium to get those dollars as the country sinks deeper into a financial crisis. The culprit being blamed this time by the Government is mobile money operators despite the fact that for many, mobile money and other digital financial services have helped buffer them against a full-blown financial crisis.An email statement to Quartz by an IMF representative says, “mobile money has h

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