Tag Archives: EcoCash

Econet says it won’t back down on its demands to banks

April 15th, 2014

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Econet Wireless has pronounced a firm refusal to back down on it’s demand on banks to pay a tariff of 30 cents to gain access to its transaction messaging system. This is according to a report in The Herald that quotes Econet Chief Executive Douglas Mboweni reaffirming this stance. According to the article, Mboweni insists [...]

Facebook reported to be venturing into money transfer services

April 14th, 2014

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Facebook is reportedly planning to venture into financial services by providing a facility for its users in select countries to store money, transfer funds and make online payments. A report from The Financial Times explains how the social network is on the verge of securing regulatory clearance in Ireland to become an “e-money” institution that [...]

EcoCash boasts of having handled transactions worth over $4 billion to date

April 11th, 2014

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  Econet Wireless Zimbabwe says that its mobile money transfer service, EcoCash, has handled transactions in excess of $4 billion since the service was introduce in 2011.This was highlighted by Econet’s group CEO Douglas Mboweni to parliamentarians at a familiarisation tour of the company yesterday. This impressive figure was achieved though 170 million transactions handled [...]

OneWallet now pays ZESA prepaid electricity credit, so does CBZ & ZB Bank

April 8th, 2014

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NetOne’s OneWallet customers will now be able to buy ZESA prepaid electricity credit via OneWallet mobile money solution. In a press statement, NetOne said the integration is part of a deal between NetOne and the Zimbabwe Electricity Transmission Distribution Corporation (ZETDC). Both are state owned enterprises. We are not certain how many customers are on [...]

Why are these mobile money fraudsters difficult to catch?

April 6th, 2014

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In an advice article published in the Sunday Mail today (read it so you don’t fall prey), the police warned readers that fraudsters in Zimbabwe are now using mobile money services like EcoCash, Telecash, OneWallet and others, to conveniently take money from victims. A common trick, says the article, is one targeted at job seekers who [...]

EcoCashLoans – Game changer? Opportunity or Threat? For who?

April 5th, 2014

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With the launch today of EcoCash Loans, following in quick succession from EcoCashSave accounts, Econet wireless has yet again read from the M-Pesa script to be the dominant financial services provider in Zimbabwe. EcoCash is a bank, with the largest number of customers at 3.5M registered users. Having shaken up the financial services market with [...]

EcoCashLoans now available to EcoCashSave customers with zero interest

April 2nd, 2014

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Econet Services has officially launched a new product called EcoCashLoans, an extension of EcoCashSave at an event held at Holiday Inn in Harare this morning. EcoCashLoans, just like EcoCashSave will be administered by Steward Bank. EcoCashLoans is a service that allows EcoCashSave customers to borrow amounts from $5 to $500. Initially, the EcoCashLoans tenure will [...]

Dr John Mangudya at RBZ: What Does it Mean For EcoCash & Mobile Money?

March 26th, 2014

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If you were waiting, the wait is finally over, former CBZ chief and Economist Dr Mangudya will be the new substantive Governor of The Reserve Bank of Zimbabwe. This comes at a time when the government is making deliberate efforts to re-position the Reserve Bank as the engine of Zimbabwe’s economic recovery.  The Herald reports [...]

Astro Mobi store delayed: denied access to EcoCash and Telecash API

March 24th, 2014

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Astro’s plans to launch local a content app store have been delayed because the company failed to secure APIs to integrate with EcoCash and Telecash for payments. Astro had planned to unveil the “Astro Mobi Store” during the recently held e-Tech Africa Expo. Astro had fliers printed for the expo advertising the Astro Mobi store [...]

James Makamba on Telecash so far: great launch and great reception

March 23rd, 2014

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Telecel Zimbabwe chairman, James Makamba, spoke about his company’s new mobile money product last week on CNBC Africa’s Closing Bell show referring to Telecash as having had a great launch and great reception by the market so far. he didn’t share any figures though, something we expected him to do. Makamba admitted though that as [...]

Axcil Jefferies crowd funding using Go Fund Me, Telecash and EcoCash

March 20th, 2014

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Zimababwe’s motor racing sensation and formula one hopeful Axcil Jefferies has now turned to crowdfunding to raise funding for him to take part in the 2014 GP2 Series. Jefferies has listed on personal crowd funding website Go Fund Me seeking to raise 1.3 million pounds (US $2,151,143.19) and if successful, it will take in one [...]

Bankers seek help from legislature in their fight against EcoCash

March 19th, 2014

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According to an article in today’s Herald, The Bankers Association of Zimbabwe has taken its ongoing battle with Econet to the state legislature. While addressing a parliament portfolio committee on youth indigenisation and economic empowerment, BAZ President George Guvamatanga asked for regulation that gives all people access to bank services. He mentioned how unhindered access and interoperability could [...]

EcoCash to launch EcoCash Diaspora in the UK in the coming days

March 19th, 2014

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EcoCash is reportedly in advanced stages towards the launch of a service extension now called “EcoCash Diaspora” in the UK. EcoCash launched the same service in South Africa last year but it wasn’t coined EcoCash Diaspora at that time. EcoCash Diaspora will now also enable Zimbabweans in the UK to transfer cash to friends and family [...]