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*Strive Masiyiwa Speaks Out On EcoCash Agents' Illicit Activities* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?mv Econet Zimbabwe founder Strive Masiyiwa has spoken on the controversy surrounding EcoCash agents who are reportedly demanding exorbitant commissions when they do cashout transactions. Masiyiwa expressed his thoughts in a Facebook exchange with one of his multitude of followers. Below is the full excerpt: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > Liveit L Ndlovu writes US$1:$12 bond cash, and US$1:$20 eco cash. Ecocash agents are charging 60%. I think it’s time to act on that issue Sir > My reply, We cannot solve a problem until we first understand it: > 1, EcoCash is not a currency. It is simply a mechanism that money moves through. > You don’t dig up a road, simply because a thief came on a road! EcoCash is just a road for money, it is not the money! > EcoCash does not have any money. The Cash [bank notes] money belongs to the agent. > Ecocash does not print money, either physical or electronic. > That is done by the RBZ. They decide how much banknotes are in circulation. If there are not enough, then they must supply them, until there is enough supply. > 2. Why is there such a shortage of banknotes in the first place, that it becomes possible to sell banknotes?! > Why?! Where in the world does that happen?! > Give me a break my friend, you are smarter than that! > Who created such an arbitrage situation? > 3. Whose cash is the Agent selling, at that rate?! > 4. How does Econet police 50,000 agents? > Who can do it? No one, because that is not the problem. Ask the RBZ to address the supply of these banknotes, if you believe that is the problem. > What if we stopped them all from dispensing any cash, would it solve the problem? Why do the banks not dispense cash like banks around the world? Why? > 5. If the State withdrew its electronic money that moves through EcoCash and replaced it with physical notes, would it solve the problem? > 6. When an Agent sells his money at 50% premium, does he share the upside with EcoCash? > Of course not! > If you show me that anyone at EcoCash is involved and benefits, that is another issue. But that is not what is happening! > Let’s first understand the problem: This is simply symptomatic of hyperinflation. In case you have not realized Zimbabwe has the highest hyperinflation in the world right now! > If you address the causes of hyperinflation, this problem disappears. *More: Techzim* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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