Ecocash agents thrive despite cash-out cap

Ecocash agents thrive despite cash-out cap

By Tendai Sahondo MOBILE money agents have resorted back to selling cash at a premium after the Central Bank removed a temporary ban on the Cash-out facility, instead, capping it at $100 per transaction. A snap survey conducted by The Business Connect revealed that agents, most prominently from EcoCash, were selling cash at a premium of between 35-45% for coins, while notes were being sold at a 60% premium. The development has effectively rendered useless the new cash-out cap, as agents are still able to sell cash within the $100 bracket….

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