Banks told to prioritise use of foreign exchange
ZIMBABWEAN finance institutions have come under pressure to limit payments for DStv, MultiChoice’s digital satellite TV service, following directives that banks strictly implement the prioritisation of foreign-currency usage in the country.
Banks and mobile finance companies have already started implementing the directive, and some payment platforms for DStv have been halted.
Service cut “Due to factors beyond our control, DStv payments on Telecash will cease on February 28 till further notice. All other services remain available,” Telecel Zimbabwe said in a text message to subscribers.
Econet Wireless, the biggest telecommunications company in Zimbabwe, has also stopped accepting payments for DStv accounts using its EcoCash mobile money platform.
Reserve Bank governor John Mangudya criticised Zimbabweans’ excessive spending on DStv payments.
It has since opened a rand account, EcoCash, on which it has enabled DStv payments.
“You can make DStv payments via EcoCash when using rands only,” EcoCash said in response to queries from subscribers who were finding that the service was unavailable.
Reserve Bank governor John Mangudya earlier this month criticised Zimbabweans’ excessive spending on DStv payments and offshore credit cards.
He said the about $45 million (R581.8m) that Zimbabweans paid towards DStv subscriptions in the second half of last year should have been used to import raw materials.
Preserve forex Mangudya said Zimbabwe would move to localise the exchange and payment system for Visa and MasterCard to ensure that scarce foreign exchange resources were preserved.
In addition to the mobile money platforms, some banks have started to restrict payments for DStv.
The Old Mutual-owned Central African Building Society (CABS) no-longer accepts Dstv payments using debit cards from other banks. This previously been one of the most reliable ways to pay for DStv, because activation was instant.
“We are no longer accepting (debit) cards for other banks. If you do not have an account with CABS, you can only pay using cash,” a teller at an outlet offering CABS payments for DStv and other utilities and services said at the weekend.
MultiChoince Zimbabwe spokeswoman Liz Dziva said answers to inquiries on the issue had not yet been approved. However, sources say the company may open a payment centre in Zimbabwe.
Zimbabweans are said to be ditching the state-run Zimbabwe Broadcasting Corporation’s radio stations and television station, because their programmes are poor and because they broadcast “propaganda” aimed at propping up President Robert Mugabe’s Zanu-PF party.