News / Local
Telecel suspend DSTV payments
28 Feb 2017 at 05:18hrs | Views
Telecel Zimbabwe has today advised its customers that it is terminating processing DSTV payments on its Telecash platform weeks after Reserve Bank of Zimbabwe said about $206,7 million was spent on DSTV subscriptions in six months last year.
The mobile operator follows Econet Wireless which stopped the same facility on its US Dollar wallet and reintroduced it when the Rand wallet was launched.
"Dear Customer. Due to factors beyond our control, DSTV payments on Telecash will cease on 28 February 2017, till further notice. All other services remain available" reads the message sent to clients.
Central bank governor John Mangudya said the wasted funds should have been preserved as " foreign exchange for raw materials and other foreign payments that include education".
"A substantial amount of the US$206.7 million... for example, for card and DSTV transactions paid through the nostro accounts between July - December 2016 should have been settled locally and thus preserving foreign exchange for raw materials and other foreign payments that include education".
The bank said "spending more foreign exchange on DSTV subscriptions than on raw materials to produce cooking oil, for example, is not only counterproductive but also illogical"
The mobile operator follows Econet Wireless which stopped the same facility on its US Dollar wallet and reintroduced it when the Rand wallet was launched.
"Dear Customer. Due to factors beyond our control, DSTV payments on Telecash will cease on 28 February 2017, till further notice. All other services remain available" reads the message sent to clients.
"A substantial amount of the US$206.7 million... for example, for card and DSTV transactions paid through the nostro accounts between July - December 2016 should have been settled locally and thus preserving foreign exchange for raw materials and other foreign payments that include education".
The bank said "spending more foreign exchange on DSTV subscriptions than on raw materials to produce cooking oil, for example, is not only counterproductive but also illogical"
Source - Byo24News
