Browsing: Southern African Development Community

Zimbabweans have shifted en masse to mobile money usage. The system has become popular with 80 per cent of transactions in the country being conducted electronically. www.theexchange.africa

Cash shortage pushes mobile money to new highs in Zimbabwe

Tech & Business

The shortage of cash is a legacy of the hyperinflation 13 years ago that caused the government at the time to abandon the Zimbabwean dollar. In 2018, the government printed 100 trillion bank notes, causing inflation to reach 500 billion per cent.
In a report published by the), a worldwide organization representing the interests of mobile money operators, Zimbabwe is ranked top among the 16 member states of the Southern African Development Community (SADC) in reference to mobile money penetration.
The GSMA, on the other hand, has stated that the), also known as the 2% tax, is making mobile money transactions more expensive.…