Econet dominant in Zimbabwe mobile money space

by MARCUS MUSHONGA
HARARE, (CAJ News) – ECONET Wireless, the leading mobile network operator, has maintained its dominance in Zimbabwe’s mobile money payments sector.

According to statistics by the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ), out of 3, 25 million mobile money subscribers in the country, EcoCash recorded a whopping 3,2 million, which is about 98 percent of the market share.

The third-largest largest mobile operator Telecel has just over 52 000 while NetOne has about 10 100 active subscribers.

NetOne is the country’s second largest mobile network.

Telecel’s mobile money solution is called TeleCash while that of NetOne is dubbed OneWallet.

To consolidate its innovation, Econet has intensively upgraded EcoCash to ensure an improved service to subscribers.

Econet Group Chief Executive Officer, Douglas Mboweni, said the upgrading would optimise EcoCash’s mobile solution as Econet sought to continue servicing increased number of current and new signing users owing to Zimbabwe’s electronic cash transfers.

Zimbabwe, facing unprecedented cash shortage relies heavily on EcoCash to send and receive money both locally or abroad.

EcoCash is expecting a surge in the coming months ahead of the festive season.

“We are pleased to let our customers and business partners know that the EcoCash platform is fully functional again, following the scheduled maintenance work,” the company stated said.

“Econet takes this opportunity to thank all its customers, merchants, agents, banking and business partners, as well as all our other stakeholders, for their co-operation, patience and support during the period of the scheduled maintenance work,” the statement read.

– CAJ News