the sector fails to pay license and maintenance fees for foreign service
providers, Standardbusines have established.
telecommunications infrastructure has been burdened by the fact that the services are constantly underway
President Jacob Mutisi said the country received its entire internet bandwidth from
outside of Zimbabwe.
"All payment systems in Zimbabwe have a foreign link and
that foreign link must be paid in foreign currency, so (the shortcomings)
affects all payment systems.
hit, and Paynet was only recently down, "he said.
The Internet ends in Europe in the same way as the mobile systems.
"So in the process there are also international relations as
come into play." Paynet, a local electronic payment processing system, was
March 12 after their licensor suspended services due to non-payment.
This hit the 22 banks it serves and the case was
decided two days later after the Zimbabwe Reserve Bank was awarded
company some foreign currency. An intensifying money supply in Zimbabwe has forced
The transaction to adapt to electronic payment methods.
of 6.4 million transactions valued at US $ 85 billion were settled through
The RTGS transaction platform in 2018, 8% and 38%, respectively, over the previous one
The operators will continue to face disturbances because they have not got it
foreign currency to maintain their infrastructure.
Limited and ZTE Corporation and Swedish company Ericsson are the largest
suppliers to Zimbabwean operators. Standard