High Court has set the hearing of Econet’s urgent application against Reserve Bank of Zimbabwe (RBZ) for Friday. The telecoms company’s lawyers have vowed however to challenge the date.
Following the direct order by the central bank to ban all EcoCash cash-in, cash-out, and cash-back transactions, Econet Wireless on Tuesday filed an urgent application at the High Court against the RBZ’s decision.
The High Court has ruled that the case will be heard on Friday.
Meanwhile, in the application, Econet threatened to shut down completely the whole Eocash system.
Ecocash is the biggest mobile money platform in terms of subscribers with over 10 million users.