BREAKING: Ecocash Loses Case Against RBZ
Mobile money platform Ecocash has lost its court interdict against the Reserve Bank of Zimbabwe where it was seeking an interdict to stop the central from suspending its mobile money agents.
The High Court said the courts cannot interdict a lawful act.
The case was dismissed with costs!
High Court of Zimbabwe has thrown out an application by EcoCash for the restoration of thousands of agent lines terminated by the Reserve Bank of Zimbabwe for suspected illegal forex trading.
The court ruled that EcoCash had no standing to litigate on behalf of its agents and RBZ actions lawful adding that it cannot interdict a lawful act as that interdict will prevent the RBZ from performing its functions in terms of the law.
In the chamber application, EcoCash had presented that they were not consulted before the RBZ made its decision and that the RBZ doesn’t have the power to suspend EcoCash agents.
The court application also pointed out that the agents haven’t committed a crime.