Ecocash bemoans stiff regulations

ECOCASH Holdings (EcoCash) says a cocktail of regulations around its core activities has inhibited business growth, despite revenue hitting the $30 billion mark in inflation-adjusted terms.

In a statement accompanying the company’s financial statements for the year ended February 28, 2022, board chairperson Sherree Shereni said product innovation remained a key priority and had allowed the company to provide relevant digital solutions that address consumer needs.
“The growth of our mobile money business has been severely constrained due to regulated transaction limits, regulated tariffs, and the continued suspension of some of our revenue-generating services,” Sheren