This archive report was first published on 18 July 2020.
Published on July 18, 2020, Zimbabwe is facing its worst economic crisis in over a decade, with severe shortages of basic goods such as fuel and cornmeal.
As part of the government's efforts to combat the crisis, police have issued a search warrant to Econet Wireless, a telecommunications giant with over 10.5 million customers.
The warrant, issued by police specialist investigator Mkhululi Nyoni, alleges that Econet Wireless is involved in money laundering activities, including the creation of fake subscribers to transfer mobile money to other accounts.
According to the warrant, the company's employees would then buy foreign currency in the black market and externalize it abroad.
Information Ministry Permanent Secretary Nick Mangwana had previously blamed mobile money transfer platforms for galloping inflation, stating that the government was in possession of 'impeccable intelligence' that telephone service providers were involved in illicit activities.
As a result of the allegations, the government had suspended mobile money transactions, capping daily individual transactions but limiting merchant transactions.
Econet Wireless has been ordered to surrender all requested documents within seven days.
The company's spokesman, Fungai Mandiveyi, declined to comment on the matter.
