Simbisa, RBZ in ‘impasse’

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Reserve money increased to $29,2 billion

SIMBISA Brands (Simbisa) says it has reached an impasse with the Reserve Bank of Zimbabwe in matters concerning its licence for InnBucks, the fast-food chains operator’s mobile money service.

The central bank yesterday suspended InnBucks, saying Simbisa had delayed regularising the service.

“The Simbisa board is engaging the regulator with a view of achieving a speedy and amicable resolution,” the company said in a statement after the reserve bank’s own announcement.

“We assure you that funds held in the InnBucks accounts remain secure and all product purchases and cash withdrawals will be honoured,” it added.’

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