Congo Targets Airtime Touts as Central Bank Props Franc
- Touts limited to selling airtime for no more than 1,000 francs
- Currency has weakened as commodity-export earnings dropped
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Mobile-phone airtime touts on the streets of the Democratic Republic of Congo’s capital have become the latest target in the government’s attempt to stop the slide of the Congolese franc.
The traders who peddle mobile credit to pedestrians in Kinshasa must stop speculating on the exchange rate and sell $1 airtime cards for no more than 1,000 Congolese francs ($1.05), according to a statement issued May 11 by the office of the Vice Prime Minister for Post, Telecommunications and New Technologies, Thomas Luhaka.