We weren’t sure how direct an entry especially because she referred to it as “mobile banking”. New information we have received from sources in the industry says there indeed is a more direct mobile money project going on at Telecel.
What would have happened if subscribers hadn’t taken to social media to complain? What about if this had affected just 50 people who all didn’t notice? How do we even know this was the first time? What mechanisms does POTRAZ have in place to ensure these glitches are detected when they happen? Does POTRAZ audit the MNO billing systems?
In October last year, it emerged that the Econet Wireless Group had formed a new company to drive the EcoCash mobile money service. Econet Services. The new company wasn’t “launched” or “announced” formally in the market, as far as we could tell at least. The change was treated subtly by Econet in as far as the market was concern.
Remember when Econet promised they’d be launching a product that would excite the whole EcoCash ecosystem? It’s probably happening tonight.
Agribank has become the latest Zimbabwean bank to integrate with the EcoCash mobile money transfer system. The announcement was made today at a press conference jointly held by the bank and Econet Wireless today in Harare. The integration is basically the same as that which Econet has secured with 3 banks so far i.e. to allow EcoCash customers to transfer money between their Agribank account and their EcoCash wallet, and the ability to do that even when they are out of the country.
Just a week after announcing the hire of former FNB executive to head its newly acquired bank, Econet disclosed today (somewhat inadvertently) the hire of another banker, Cuthbert Tembedza, to fill a newly created position of EcoCash CEO.
We’re just from a press conference where Econet Wireless and Stanbic Bank announced the integration of Econet’s mobile money transfer platform, EcoCash, with Stanbic’s banking system allowing EcoCash subscribers to transfer money from and to their Stanbic accounts. Selected branches of Stanbic will also act as EcoCash Super Agents allowing EcoCash agents and customers to do EcoCash transactions.
We just received a statement from Econet announcing the appointment of South Africa banker, Kwanele Ngwenya, as CEO of it’s newly acquired financial institution, TN Bank. Ngwenya was Director of Commercial Segment at First National Bank’s (FNB) Botswana operation.
The temptation locally when you hear of a $315 Android tablet is to write it off as one of those clunky cheap Asian tablets abundant in downtown tech gadget shops. You couldn’t be more wrong thinking that about the 7-inch ZTE Light Tab 2
The constant complaint with mobile money services locally (EcoCash really) is that it’s expensive to use. Since launch. They reviewed the transaction fees downwards once, a few weeks after launch, but EcoCash remained the most expensive mobile money transfer service in Zimbabwe. So yes, we mourned a lot about it every time we got a chance. Those prayers are about to be answered.
Aquiva Wireless would like to advise new and existing customers that there is currently an ongoing interconnection dispute between ourselves and Econet Wireless. Due to this we are currently unable to guarantee calls terminating to Econet.
Econet Wireless owned fibre and satellite operator, Liquid Telecom, announced yesterday the acquisition of East African telecom assets from JSE listed Altech Group in a deal that will, according to the company, make it the largest terrestrial fibre operator on the continent. Altech will get an 8.6% stake in Liquid Telecom and 10% shareholder voting rights. In addition to the assets, Altech will however also subscribe a further US $16.5 million for the stake.
It’s not well at Brodacom. Not at all. Around this time two years ago, information in the market suggested the company was coming on the scene to change the game in Zimbabwe’s internet sector. It didn’t happen.
Tawanda Nyambirai, Lifestyle Holdings CEO and Econet Wireless Zimbabwe Chairman, announced today that he has accepted an offer from Econet Wireless to buy him out of TN bank. Speaking at a press briefing today Nyambirai said he will be selling his stake in the bank he founded in exchange for shareholding in Econet Wireless. As a result of the transaction Nyambirai said he will be stepping down as chairman of Econet Wireless Zimbabwe to become a director on the board of the parent company Econet Wireless Group.
Yesterday, we held the ePayments Forum in Harare yesterday where we had representatives from Visa, Econet Wireless Zimbabwe, Zimswitch, Touch Retail and Zimbabwe revenue authority presenting on some keys issues in the ePayments space in Zimbabwe.