EcoCash distances itself from MMM and Ponzi Schemes

EcoCash has distanced itself from MMM and Ponzi Schemes. Econet issued out a notice to all stakeholders advising that it has noted that some of these Pyramid schemes are allegedly advertising in a manner that suggests that the EcoCash facility is a medium for prospective members to deposit their money.

Below is the statement from EcoCash:

EcoCash is not associated with MMM and Ponzi Schemes
The Reserve Bank of Zimbabwe (RBZ) issued a public statement on 25 August 2016 warning the public against investing Pyramid ard Ponzi schemes. We have noted that some of these Pyramid schemes are allegedly advertising in a manner that suggests that the EcoCash facility is a medium for prospective members to deposit their money. This is not correct.

We advise our valued customers and all stakeholders that EcoCash is a licenced mobile payment platform that enables customers to make financial transactions such as sending and receiving money, buying prepaid airtime as well as paying for goods and services within the confines of the laws of Zimbabwe. EcoCash promotes safe and legal transactions but will not be held liable for any losses arising from the use of EcoCash to engage in illegal activities such as Ponzi schemes.

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