MDC Alliance Statement On The Suspension Of Mobile Money Operations & ZSE

The MDC Alliance is concerned by the government’s unlawful decree issued on Friday 26 June 2020 by the Permanent Secretary for Information, Publicity and Broadcasting Services banning mobile money operations and suspending trading on the Zimbabwe Stock Exchange.

This is an arbitrary measure that violates the rule of law, due process and basic principles of administrative law.

The Permanent Secretary does not have the authority to issue such a ban on regulated entities, which authority is held by the Reserve Bank of Zimbabwe and the securities regulator. None of these authorities has backed the decree.

Indeed, we expect statements of such gravity on economic matters to come from competent authorities that are mandated by law to manage monetary policy.

Their silence indicates dissonance with the regime which points to dysfunctionality which has characterized state operations in recent months.

LEAVE A REPLY

Please enter your comment!
Please enter your name here