Stock Exchange And Mobile Money Transactions Suspended In Zimbabwe

Chief Executive Officer Justin Bgoni, said on Sunday that trading on stock exchange and mobile money transactions was suspended until further notice.

According to report, the Zimbabwe government said on Friday in a statement that the mobile money transfer suspended due to effect in citing criminality and economic sabotage. The blame was on stock exchange for fuelling the collapse of Zimbabwe dollar and housing fake counters.

Further more, suspending the mobile payments will hit the economy hard, because mobile money is widely used for payment.

More than 80 percent of all transactions are conducted through phones due to shortage of banknotes, and the government states that all mobile money platforms were complicit in illicit activities in the country.

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