News / National
Econet platforms switch to new currency
07 Apr 2024 at 05:14hrs | Views
ECONET Wireless Zimbabwe yesterday suspended trading in Zimbabwe dollars to facilitate the changeover to the new ZiG currency on its various product platforms.
The ZiG was unveiled on Friday when new Reserve Bank of Zimbabwe (RBZ) governor, John Mushayavanhu, was presenting the monetary policy statement.
Econet said it was preparing its systems to allow trading in the new currency.
"We would like to advise our valued customers that we are currently in the process of configuring our systems to allow the changeover from the ZWL currency to the new ZiG currency in compliance with Statutory Instrument (SI) 60 of 2024," the company said in a statement.
"customers can, however, still purchase all our products and services in US dollars (USD), using our normal sales and distribution channels."
Econet said its customers would only be able to trade in the new ZIG currency from tomorrow.
Econet also addressed the issue of customers that had bought airtime or data before the changeover.
"In the case of customers who bought bundles before the ZWL currency suspension, their bundles will continue to be available for their use until they either expire or are used up by the customer," the company said.
"However, the main account balance will be converted to ZiG at the going rate during the ongoing transition.
"We regret any inconvenience the changeover may cause our customers."
Econet joins hundreds of businesses – including banks and several retailers across the country – that issued statements to their customers on Friday night and on Saturday, notifying them of the suspension of the ZWL sale of their products and services, as they transition to the new currency.
The ZiG was unveiled on Friday when new Reserve Bank of Zimbabwe (RBZ) governor, John Mushayavanhu, was presenting the monetary policy statement.
Econet said it was preparing its systems to allow trading in the new currency.
"We would like to advise our valued customers that we are currently in the process of configuring our systems to allow the changeover from the ZWL currency to the new ZiG currency in compliance with Statutory Instrument (SI) 60 of 2024," the company said in a statement.
"customers can, however, still purchase all our products and services in US dollars (USD), using our normal sales and distribution channels."
Econet said its customers would only be able to trade in the new ZIG currency from tomorrow.
Econet also addressed the issue of customers that had bought airtime or data before the changeover.
"In the case of customers who bought bundles before the ZWL currency suspension, their bundles will continue to be available for their use until they either expire or are used up by the customer," the company said.
"However, the main account balance will be converted to ZiG at the going rate during the ongoing transition.
"We regret any inconvenience the changeover may cause our customers."
Econet joins hundreds of businesses – including banks and several retailers across the country – that issued statements to their customers on Friday night and on Saturday, notifying them of the suspension of the ZWL sale of their products and services, as they transition to the new currency.
Source - The Standard
