Paynet sues Bankers Association of Zimbabwe for USD100 Million

Business Zimbabwe

London Stock Exchange listed firm Cambria Africa is now in the motion of suing the Bankers Association of Zimbabwe, along with its members, for anti-competitive practices to the tune of US$100million. This is in relation to the dispute stemming from the blocking of PayNet from the banks which had an impact on bulk payments.

ZTN Correspondent Andy Hodges speaks to E-Business Weekly Senior Reporter Golden Sibanda on the implications of this lawsuit and also on the new system that is supposed to now cater for bulk payments.