ECOCASH TO PAY INTEREST
EcoCash, OneMoney and Telecash must now pay interest on
daily balances held by their customers at a rate equivalent to 50 percent of
the prevailing yield on Treasury Bills, which these days is between 13 percent
and 15 percent a year or around 0.02 p…
EcoCash, OneMoney and Telecash must now pay interest on
daily balances held by their customers at a rate equivalent to 50 percent of
the prevailing yield on Treasury Bills, which these days is between 13 percent
and 15 percent a year or around 0.02 percent a day.
The new rules were gazetted yesterday by Finance and
Economic Development Minister Prof Mthuli Ncube using his powers under the