Breaking News

EcoCash creates 5 000 jobs

by Business Reporter
15 January 2013 | 5475 Views
Econet Wireless Zimbabwe says it has invested over US$50 million in its mobile phone based money transfer service, EcoCash, creating more than 5 000 jobs.

The mobile telecommunications company said that the service has transformed the lives of many people, mostly in rural areas.

EcoCash, Zimbabwe's fastest growing mobile money transfer service, has allowed millions of people without traditional bank accounts to access basic financial services.

Econet Wireless has since signed up several banks and retailers to expand the distribution network of the EcoCash service.

This has also helped reduce the problem of small change in a country where there is shortage of coins following introduction of the US dollar as the main transaction currency.

The range of benefits also includes more secure ways of carrying money, convenient payment of bills, buying airtime top up and checking of bank balances and statements.

"Econet Wireless has enabled nearly two million Zimbabweans, the majority of whom did not have bank accounts, to have access to basic financial services through EcoCash," Econet spokesman Mr Ranga Mberi said.

"Most of these people live in rural areas where there are no banking facilities and EcoCash has become their economic lifeline.

"Econet has to date invested more than US$50 million to make this possible, in the process creating more than 5 000 new jobs in the economy," Mr Mberi said in a statement.

EcoCash has transformed the mobile phone money transfer landscape much the same way Econet Wireless broke into the telecommunications sector when it started in 1998.

After Econet fought tenaciously to gain space in the sector about 10 million Zimbabweans now have mobile phones.

The success of EcoCash service is shown by the fact that in just over 12 months, an additional million people now have access to financial services compared to less than one million who were serviced by Zimbabwe's banks combined.

EcoCash is providing an essential money transfer service to millions of Zimbabweans and it was confident of further growth this year as more retailers sign to partner with Econet.




Further, other distribution channels are developed, Mr Mberi said. Econet was also aware that there would always be some institutions in the financial sectors that were worried about the impact of EcoCash on their business.

But Econet Wireless was also pleased that the majority of banks in Zimbabwe have embraced the Ecocash service.

EcoCash Jobs Econet

Source: TH

Could there be war if Grace Mugabe becomes President?

Yes
74.6%
No
9.09%
Who cares?
16.31%
374

Comments

Latest Classifieds (Click Here For More)

News Updates

Email:

Latest News

'Prioritise quality education,' says Grace Mugabe - The First Lady Dr...

by Staff Reporter | 25 October 2014 | 49 Views

'I am not a sell out,' says Dr Mujuru - Vice President Dr Joice Mujur...

by Staff reporter | 25 October 2014 | 2058 Views

Mugabe's Zanu-PF politburo ignores Grace's demands - Yesterday's much-...

by Staff reporter | 25 October 2014 | 1436 Views

Zesa power outage riles Mugabe - President Robert Mugabe yesterday cam...

by Staff reporter | 25 October 2014 | 931 Views

My aunt taught me how to have sex, says rapist

by Staff Reporter | 25 October 2014 | 3388 Views

Incompetent cops - WhatsApp update - Please note that Bulawayo24 does...

by Concerned Citizen | 25 October 2014 | 1488 Views

'Amaiguru Gire is working tirelessly hard to destroy Zanu PF' - Please...

by Sando kuna Gire | 25 October 2014 | 5135 Views

Rotary Club of Bulawayo donates to Tjewondo Primary School

by Collin Nyabadza, Executive Director - Collin Nyabadza Children's Voice Charitable Trust | 25 October 2014 | 976 Views

Dr Joice Mujuru graduation party - Live updates - Vice President Joic...

by Staff reporter | 25 October 2014 | 7350 Views

Politburo ends pre-matually - The Zanu-PF Politburo meeting has ended ...

by Staff reporter | 25 October 2014 | 2544 Views

Mujuru's political life hangs in balance, kept guessing - Vice-Preside...

by Staff reporter | 25 October 2014 | 2531 Views

Zanu-PF Politburo drama fails to materialise - THE Zanu-PF politburo g...

by Staff reporter | 25 October 2014 | 1395 Views

Mugabe convenes parliament - President Robert Mugabe will next week op...

by Staff reporter | 25 October 2014 | 1195 Views

Tsvangirai broke, failing to maintain government mansion - MDC-T leade...

by Staff reporter | 25 October 2014 | 1233 Views

Bosso ranked higher than English Premier sides QPR, Pompey - BULAWAYO ...

by Sikhumbuzo Moyo | 25 October 2014 | 2041 Views

Adulterous man sued for maintenance - A BULAWAYO magistrate has grante...

by Lethokuhle Moyo | 25 October 2014 | 1126 Views

Cop gets a thorough hiding, left with swollen face - A policeman was ...

by Plaxcedes Hove | 25 October 2014 | 1492 Views

Teacher suspended over sex with Grade 6 pupil - THE teacher from Roman...

by Sukulwenkosi Dube | 25 October 2014 | 1620 Views

Man brutally axed to death, body dumped on railway line

by Bongani Ndlovu | 25 October 2014 | 2211 Views

R50 abortion specialist nabbed

by Staff Reporter | 25 October 2014 | 1497 Views

Macheso granted provisional order against abusive hubby

by Staff Reporter | 25 October 2014 | 3342 Views

Mugabe okays Mliswa ouster

by Farirai Machivenyika | 25 October 2014 | 4861 Views

War vets to stage anti-Kaukonde protest

by Staff Reporter | 25 October 2014 | 3481 Views

Jabulani Sibanda urged to resign over 'sharp shooter' Grace Mugabe

by Staff Reporter | 25 October 2014 | 5131 Views

'Zanu-PF is much bigger than personal ambitions and vendetta' - The cu...

by Kennedy M. Mandaza, ZANU PF SA Secretary for Information and Publicity | 25 October 2014 | 3095 Views

Zanu-PF official embroiled in sex scandal, including raping girl (9) -...

by Staff Reporter | 24 October 2014 | 5794 Views

No meaningful devolution without fiscal autonomy - The ZAPU devolution...

by Themba Mthethwa | 24 October 2014 | 1910 Views

Open letter to Grace Mugabe - I AM sure you don't know me at all, bei...

by GP Ndlovu | 24 October 2014 | 9467 Views

Entertainment

Carl Joshua Ncube to star in game show - Comedian Carl Joshua Ncube wi...

by Staff reporter | 23 October 2014 | 975 Views

LadyBee Anondida - Official video

by Staff Reporter | 23 October 2014 | 2249 Views

Zim representative in the Big Brother Africa survives eviction - Zimba...

by Staff reporter | 20 October 2014 | 2879 Views

Grace Mugabe's political comedy takes ZTV hostage - For the past two w...

by Staff reporter | 20 October 2014 | 5328 Views

Oliver Mtukudzi to deliver lecture at Musica 2014 - Zimbabwe's interna...

by Staff reporter | 19 October 2014 | 1603 Views

Gezha maoko - Ladybee (Official Video)

by Staff Reporter | 19 October 2014 | 2901 Views

Matebeleland Music & Arts Festival - Sivala umnyaka ngengoma lapho sit...

by Staff Reporter | 17 October 2014 | 1847 Views

Obediah Matulana releases Christmas DVD - Bulawayo-based musician Obed...

by Staff reporter | 16 October 2014 | 2146 Views
iBlog

Protect Your Greatest Small Business Asset: Time

if your work week is way more than 40 hours, your smartphone is glued to your hand, and your to-do list is multiple pages of overdue tasks—you know how valuable every minute of your time is.your smartphone and tablet make doing business from anyw... Read More
Sergey 05 September 2014 ago

The Zero-day Vulnerability Cve-2014-4114 Impacting All Versions Of Microsoft Windows

new microsoft windows zero-day vulnerability - cve-2014-4114on tuesday, october 14, 2014, isight partners - in close collaboration with microsoft - announced the discovery of a zero-day vulnerability impacting all supported versions of microsoft win... Read More
SecNews 16 October 2014 ago