Kiyapili Sibanda, Business Reporter
ECONET subsidiary Steward Bank has suspended digital satellite television (DStv) payments for all accounts citing foreign currency shortages being experienced in the country.
The bank said it has suspended DStv payments with immediate effect except for the iAccount and Platinum Club Accounts.
“Due to industry wide shortages of foreign payments, and to assist in effective allocation of foreign currency reserves at this critical time, we would like to advise that with immediate effect the bank has suspended DStv payments for all accounts classes with the exception of iAccount and Platinum Club Accounts,” it said.
The bank said yesterday that it would advise its customers if any changes regarding DStv payments take place.
“We sincerely regret any inconvenience caused by this difficult but necessary decision. Customers will be advised in due course should there be any change in this regard,” said the bank.
Last year in May, the Reserve bank of Zimbabwe (RBZ) set priorities for imports, imposed limits on cash withdrawals and introduced a bond note currency in a bid to ease the acute shortage of hard currency.
Meanwhile, Econet Wireless Zimbabwe has announced a major data network upgrade that will see the mobile network market leader achieve 100 percent 3G coverage across the country by the end of this year. — @Kiyaz_Cool.