Leading mobile telecommunications company Econet Wireless Zimbabwe has further lowered its EcoCash transaction tariffs with effect from August 1, 2018.
In a notice issued yesterday, Econet said sending an amount of money between $2 to $5 to a registered subscriber, now costs seven cents while cashing out a similar amount costs 17 cents.
At the moment transacting a $5 amount to a registered Ecocash user attracts a charge of 12 cents. Transacting the lower value of $400 and an upper value of $500 will attract a charge of $2,41 from the previous charge of $2,62.
The notice also indicated that cash-out for unregistered recipients was free and that all charges are levied electronically with no extra charges over the counter. Previously, there have been reports about Ecocash agents offering cash outs on a premium. The tariff reduction is expected to ease the burden on customers who are relying on mobile money transaction amid the prevailing cash shortages.
Last month, Government through the Postal Telecommunications Regulation Authority (Potraz) directed mobile network operators to reduce data tariffs by more than 60 percent to promote social media usage.
The directive, which was effected on July 1, saw mobile operators reducing data tariffs from 12,5 cents to five cents per megabyte.
Potraz said the reduction in data charges was made following a pricing model review that saw it engaging a German consultancy company Detecon.