25% charge on mobile money: Retailers call on Govt to protect consumers

 Mr Denford Mutashu

Mr Denford Mutashu

Prince Sunduzani, Business Reporter
THE Confederation of Zimbabwe Retailers (CZR) has urged the Government to rein in mobile money companies to protect consumers as their merchants are charging up to 25 percent premium on mobile transactions.

CZR president Mr Denford Mutashu said the malpractice needs to be curbed as it is defrauding consumers and affecting their confidence in the use of plastic money.

“The charging of 25 percent premium by various merchants is criminal and should be abolished immediately as consumers have suffered.

“The CZR feels Government must direct mobile telecommunication companies to deal with their merchants who are charging the premium. Banks should help restore confidence to ensure the public and business bank cash and encourage savings,” he said.

Amid the prevailing cash crisis, a number of unscrupulous businesses have resorted to behaviours tantamount to selling cash by charging exorbitant prices for goods and services.

There has also been an emergence of four-tier pricing models where businesses charge different prices for cash transactions, mobile money and electronic transactions.

The Reserve Bank of Zimbabwe (RBZ) last year warned bankers and cash barons against selling cash on the market.

In a bid to curb the menace, the Government has gazetted regulations that criminalise cash vending without permission from the exchange control authority and empowered police to arrest money peddlers.

Finance and Economic Planning Minister Patrick Chinamasa is on record saying measures would be put in place to end the four-tier pricing system where prices for one commodity differ depending on the mode of payment. – @PrinceNkosy102.

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  • Trotsky

    Chronicle avoid using file photos with former president there is a new dispension now while RG is looking at us behind Mutashu there

  • zibulo

    comrade mutashu what what… mobile operators are in business , they see a gap , an opportunity. that is what we call entrepreneurship; identify a product or service in short supply anf you will be in business. Only when Government stops putting their hands into the State Cookie jar will all this nonsense stop. How many zimbabweans sieze opportunites to go to RSA and supply something in short supply? who has aksed govt to tell them what to charge? Gullible Zimbabweans your “education is hopeless. you do not know that in order to have political , economic and social order , you have to fight for in whatever way possible, instead of expectig these thieves to have a change of heart and stop looting. Fight it in every way- they are stealing daily- in Cabinet, Par
    astatals and Councils , see flashy cars they drive, yet they say there is no cash-bayothathaphi. Fight them , use the Constitution-there are provisions there , tools ,section to recall even the President , MPs, Councillors- dont expect gangsters to say we have stolen enough. use the Constitution , the Courts , the Judiciary, the laws are there to stop this menace-but then until the so-called educated majority Shonas start it , nothing will happen, sometime you endear yourself to those crying for separatism-Mthwakazi – away from the Thieving Crowd, aided by ZBC, ZTV, Zimpapers who churn lies, ignore facts, who run stories through Chefs before publishing