Local Mobile money agents to pay Interest
EcoCash, OneMoney and Telecash must now pay interest on daily balances held by their customers at a rate equivalent to 50 percent of the prevailing yield on Treasury Bills, which these days is between 13 percent and 15 percent a year or around 0.02 percent a day.
The new rules which were gazetted yesterday by Finance and Economic Development Minister Prof Mthuli Ncube using his powers under…
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