Zimbabwe’s central bank says the dominant mobile money platform is running a Ponzi scheme

Zimbabwe’s central bank says the dominant mobile money platform is running a Ponzi scheme

Quartz - Latest stories·2020-05-12 15:17

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Once touted by Zimbabwean authorities as the effective solution to the country’s cash problems, mobile money is now being blamed for the rapid loss in value of the country’s Zimdollar currency. The central bank has described the leading EcoCash platform as a Ponzi scheme in court papers seeking to sustain a directive to disable its agent lines.

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