Zimbabwe News and Internet Radio

Zanu PF youth leader guns for Econet

By Margaret Matibiri

The Zanu PF Youth League deputy secretary Lewis Matutu has gone guns blazing on giant network provider Econet for allegedly using its Ecocash platform to sabotage the economy.

Zanu PF Youth League deputy secretary Lewis Matutu
Zanu PF Youth League deputy secretary Lewis Matutu

The youthful leader took to his twitter account to openly attack the ‘untouchable’ giant service provider for using the mobile financial service platform Ecocash.

“@econetzimbabwe please stop what you are doing to our economy through the abuse of your Ecocash facility,” read his tweet.

The attack also comes at a time when this publication reported that the Reserve Bank of Zimbabwe (RBZ) moved in to thwart Econet’s suspected default aid in money laundering which was acting as a conduit for promotion of illegal foreign currency dealings through Ecocash.

The RBZ Financial Intelligence Inspectorate and Evaluation Unit (FIIE Unit) last month ordered Ecocash to suspend some agent lines which they suspected to have irregular transaction patterns with some trading as much as RTGS$200 000 to RTGS$1million in a single day.

Hundreds of forex dealers had their agents lines suspended and they battled to recover their money running into hundreds of thousands of dollars.

The RBZ governor John Mangudya reiterated that “Ecocash like any other financial institution was supposed to be accountable hence the FIIEU cracked a whip on Ecocash.”

The attack comes after the youthful leader led in a crusade against corrupt individuals, naming and shaming them at a press conference.

Big names that were lined up for the guillotine include Zanu PF secretary for administration Obert Mpofu who has been accused of playing an instrumental role in the looting of diamonds in Manicaland during his tenure as Minister of Mines and Minerals.

The list ripped apart top government officials among them, Minister of Tourism Prisca Mupfumira, minister of State for Presidential Affairs in charge of Implementation and Monitoring Joram Gumbo, Speaker of Parliament Jacob Mudenda and youthful transport and logistics mogul Tinoda Machakaire. Zim Morning Post