Latest News Editor's Choice

Business / Local

RBZ gets rare praises over ZIMSWITCH move

by Mandla Ndlovu
09 Jul 2020 at 22:29hrs | Views
Political Analyst Michael Mdladla Ndiweni has defended the announcement by the Reserve Bank of Zimbabwe to designate ZIMSWITCH as the national payment switch.

In a post on Facebook, Ndiweni said it is a big inconvenience to own too many sim cards, then change sim cards when you are transacting.

Read his statement below:

If the issue about using ZimSwitch to connect all mobile money transfer so that like in some countries I simple send money to anyone using my Netone line, then it is a welcome move. There is a notice that is circulating in various social media platforms stating that RBZ has designated ZimSwitch as a national payment platform with immediate effect. Daggers are already drawn towards the central bank.

I have written here on Facebook before about this strange arrangement in Zimbabwe. It is a big inconvenience to own too many sim cards, then change sim cards when you are transacting, we end losing some cards, we are always replacing because it has been misplaced in a wallet.

We lose time looking for specific mobile money transfer transacting booths for collecting cash whereas this can just be integrated into one. I have wondered why this practice in Zimbabwe, I had not received a satisfactory explanation, perhaps since RBZ has instructed all service to connect to the platform I will understand why we had a different setup.

I have lived in countries like Ghana where I could send money from Airtel to MTN or Zain. Without me having to be switching or owning many sim cards. I find doing business smooth and convenient.

Economists can further unpack this in my considered a positive move and share the technicalities. Perhaps flag the red flag. For me as a transacting vendor, good move. I loath this idea of having many sim cards over again and gallivant the city looking a specific money transfer agent.

Source - Byo24News