Econet demands cash from bulk airtime vendors

Source: Econet demands cash from bulk airtime vendors – NewsDay Zimbabwe October 25, 2017

ECONET Wireless is demanding cash payments “only” from its bulk airtime dealers or resellers, at a time the country is facing a crippling cash crisis, NewsDay has heard.


Econet airtime dealers told NewsDay that Zimbabwe’s largest telecoms company was demanding to be paid in cash “only”.

“Econet is demanding to be paid in cash only when we want to purchase bulk airtime and it’s unsustainable, given that we have cash crisis in the country. At first they were accepting EcoCash and it was better, but now they are not,” one dealer said.

“We don’t know why they are doing that. Other networks like NetOne and Telecel don’t do that. At first they could accept 50% through EcoCash and 50% in cash. Now they are demanding 100% cash”

Reached for comment, Econet Wireless media relations executive, Fungai Mandiveyi said Econet accepts payment from its bulk airtime dealers or resellers in the form that the dealers were paid by Econet customers.

“Where the dealers or resellers are paid in cash, Econet expects to be paid by the dealers in cash. Where the bulk airtime resellers are paid by electronic transfer or by EcoCash, Econet expects the same mode of payment from the dealers,” Mandiveyi said.

“Econet deposits all the cash receipts from its dealers, resellers and customers with the banks and sends daily returns of its banking to the Reserve Bank of Zimbabwe.”

“All our individual customers may make payment for individual airtime, data or any other Econet products and services by EcoCash, Point of Sale devices or by direct bank transfer,” he said.

Zimbabwe is currently plunged in a cash crisis that has resulted in cash barons across the country taking advantage of the situation, charging between 40% and 45% interest to desperate people in need of cash.