Burundi: the Central Bank ends the paralysis of the Ecocash system

Super agents and agents using the Ecocash e-money system can withdraw any amount they want, an exemption the Central Bank has just granted them. The BRB (Banque de la République du Burundi) has applied since January 13, 2023 a measure prohibiting any natural person from withdrawing more than 15 million Burundian francs per day from the bank. Despite the authorization, the Ecocash service is experiencing difficulties. INFO SOS Médias Burundi

Beneficiaries welcome the measure. They thank the Central Bank for having heard their grievances.

“Hereby, we would like to inform you that taking into account their activities, the Bank of the Republic of Burundi authorizes Electronic Money Payment Institutions, their agents and super agents, to move
freely trust accounts, opened in the name of said electronic money payment institutions, as part of the purchase and sale of electronic money, in derogation of the directives notified to you by the letter referenced D1/100/ 2023 of January 13, 2023″, we read in a press release signed by Dieudonné Murengerantwari, governor of the BRB.

Even if this situation settles, the Ecocash service is more than sluggish.

“Practically it doesn’t nearly work. You can’t withdraw your money without bribing the agent or the super agent. We have to do it. Otherwise the whole amount remains stuck in the phone”, says a customer who says he understands agents and super agents “because they are not working, for lack of cash”.

Those who manage to have a small sum take advantage of it by raising the fees as they wish.

The Ecocash system has been paralyzed for two weeks, following a decision by the Burundian revenue office which seized all the accounts of the mobile phone company Econet Wireless, holder of the Ecocash system.