Zimbabwe and regional technology news and updates



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African fintech startup Zoona secures $15 million investment, focuses on major growth over the next 4 years

One of Africa’s regional fintech startups, Zoona, announced that it has raised US$15 million in a new round of funding.

Hand2Hand enables global (South Africa) credit card remittances to EcoCash wallets?

You may have noticed increased visibility of a money remittance service called Hand2Hand. They are interesting in a couple of ways but mainly that they got access to what so far we thought was only accorded to WorldRemit only – they are able to send money directly from global credit cards via a website to EcoCash mobile […]

Zipcash money transfer service expanding into West Africa

Zimpost’s money transfer services, Zipcash, which was launched in October last year, will be setting up operations in West Africa with arrangements in Nigeria being finalised. This was mentioned by Zimpost managing director Douglas Zimbango, according to an article in the Herald. This regional expansion of the postal money transfer service started off with countries […]

Econet completes EcoCash mobile money integration with NMB Bank

We just got tipped to the news that Econet Wireless – well, the Econet Services part of it – has completed the integration of its EcoCash platform with NMB Bank’s banking platform.

OK Zimbabwe and FNB launch SA diaspora mobile remittance service

A press release today announced the launch of a mobile based remittance service by First National Bank (FNB) and OK Zim for people in South Africa to send money to Zimbabwe

Econet explains why the new EcoCash tariffs are cheaper overall

When we first posted the announcement of the EcoCash Tariff review by Econet a few days ago, we noted that small amounts, that is most value ranges below $50, had actually become more expensive, while the larger amounts are significantly cheaper.

Agribank CEO, Sam Malaba, encourages banks to integrate with EcoCash

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.

Econet on EcoCash open access: “Hey banks, here’s the deal…”

Yesterday, Econet made an announcement via a release to assure the market that issues (these, issues) have been resolved with “virtually all banks” and that if everything works according to plan, all banks that want to be connected to EcoCash, would be integrated by end of March 2013. According to the release Econet is apparently responding to fears by some financial institutions that they’ll lose customer to EcoCash integrated banks.

While Zimswitch waits, Econet chooses to partner banks directly with EcoCash

Today we attended a press briefing where Econet Wireless Zimbabwe and CBZ Bank were announced a new mobile banking partnership. The partnership basically entails that EcoCash subscribers who bank with CBZ can now move money between their EcoCash mobile money wallet and their traditional bank account from their mobile phones. Users of the service can also check the bank balance and get a mini statement all via EcoCash.

Sponsor Profile: EcoCash

The ePayments Forum is a platform of common interest that seeks to bring together stakeholders in the plastic money, mobile money, and internet banking sector (collectively known as ePayments). The inaugural event is organised by Techzim events through the valued support of sponsorship partners:

Econet subsidizes kombi fares for EcoCash users

In an apparent move to attract subscribers to use its EcoCash mobile payment service, Econet announced this week that for a week they’ll subsidize the kombi* fare by US 25 cents for people paying via EcoCash. For some users of EcoCash this means as much as half of the fare will be paid by Econet just for using their platform.

EcoCash by the numbers: now handles $70 million monthly

Yesterday, Econet announced its interim unaudited results for the 6 months ending 31 August 2012. The one product mentioned again and again and one the Econet leadership confirmed was their most exciting product, even comparing it to the introduction of prepaid, was EcoCash. The highlight stats of the product are that US $70 million worth […]

EcoCash Mobile Money: Interview with Econet Services CEO

Last week, after a tour of EcoCash Business (well, EcoCash Commuter mostly), we got the opportunity to interview the Econet Services CEO, Darlington Mandivenga and Econet Wireless Mobile Money Executive, Francis Matseketsa. Econet Services, as we wrote last week, is now managing such strategic services as EcoCash for the entire Econet Wireless group. In the […]

Econet increases EcoCash mobile money transaction limits

Econet, Zimbabwe’s largest telecommunications firm, and now arguably the largest mobile money transfer services provider in the country, announced recently the increase of daily and monthly transactions limits for its EcoCash service. The changes were effected on 25 September 2012. Where previously an EcoCash user had a daily spending limit of US $500, the amount […]

Mobile money for public transport: EcoCash in the Kombi

Today, a friend pointed us to a development on the EcoCash for business front. Specifically, in the public transport sector. Apparently Econet is already trialing its mobile payment service in Kombis (local Zim colloquial for public transport minibus). The friend, a student at the University of Zimbabwe says he started noticing the development yesterday. In […]

EcoCash mobile money registered users now over 1.7 million

As Econet celebrates the first anniversary of its mobile money product, EcoCash, the company has announced that the service has grown to over 1.7 million registered users. In a press release sent out today, the company says this makes it the second fastest growing mobile money transfer service in the region after M-Pesa. EcoCash was […]

Econet Wireless Zimbabwe prepares to launch EcoCash merchant services

Econet has started an advertising campaign for the introduction of merchant services on the EcoCash mobile money transfer system. The adverts, which started appearance recently in Zimbabwe’s newspapers, indicate that the additional services will be launched very soon. Here’s some of text appearing in the adverts: Very soon you’ll be able to: Pay your kombi […]