ECONET Wireless Zimbabwe has reduced physical airtime sales to 10 percent in line with the Reserve Bank of Zimbabwe directive regarding the phasing out of physical airtime distribution by mobile network operators.
Last year, the Reserve Bank of Zimbabwe through its Financial Intelligence Unit proposed the phasing out of physical bulk airtime recharge sales and put a cap on individual electronic purchases, citing the need to curb the rampant abuse of the platforms by illicit currency speculators.
The central bank unit stated that airtime dealers and individuals will have to use electronic recharging as physical airtime sales are being reduced to 20 percent and below.
In a trading update for the first quarter ended May 31, 2022, Econet said:
“Following the RBZ directive regarding the phasing out of physical airtime distribution, we reduced physical airtime sales from 20 percent…
