It was bound to happen sooner or later if we are being honest. Cassava Smartech Zimbabwe Limited, the parent company to Ecocash, has now made an urgent application at the High Court seeking an order nullifying NPS 01 of 2019 that banned the multicurrency system.
You can download their application here.
Why this was bound to happen
Given the nature of the ban and the severity it’s bound to have on Ecocash’s very own business model, Cassava was bound to take some sort of action sooner rather than later. There are also legitimate businesses that, the RBZ in their blind rage and desperation to quash illegal trades, completely ignored.
Even if Ecocash succeeds in their application expect some changes to the way their ecosystem operates. There will be strict monitoring of transactions something akin to what banks do. There can even be a registering of Ecocash Agent lines.
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