Breaking News

EcoCash open to every bank in Zimbabwe

by Ndou Paul
11 February 2013 | 4877 Views
A senior Econet Wireless executive, Mr Darlington Mandivenga, who is responsible for the rollout of EcoCash, has dismissed a claim reportedly made by Bankers Association of Zimbabwe's immediate past president, Mr John Mushayavanhu, stating that Econet has denied banks access to its platform for integration.

Mr Mandivenga said: "That is simply not true. We have agreements with most of the banks, and we are currently carrying out physical connections with most of them. We as Econet initiated the process, and we are very keen to get it completed, but it cannot be rushed because it involves accessing bank accounts."

Mr Mandivenga said Econet expects most banks to have their systems running by the end of March. "Right now I am expecting three major banks to go live within 10 days, because we are almost complete."

The Econet Wireless executive named CABS as the only institution which has been actively trying to fight the EcoCash service and has tried unsuccessfully to lobby against it.

"As you know, CABS have been working with ZIMSWITCH to launch a service called Textacash. Since their own customer base is very small compared to the Econet subscriber base of 8 million, they want us to open up our system, so that they can simply spam any of our customers with text messages. We will never allow that because it would not only violate our license, it would be total abuse of customers' privacy."

Mr Mandivenga named former CABS boss, Mr Kevin Terry, now at Old Mutual, as the main instigator.




"He wants to create an impression that this is the position of all banks, but he does not disclose to them that it is his own interest that he is fighting for. If CABS and Zimswitch want to compete with us, they are free to do so, but they must build a proper system that reaches the rural people in Zimbabwe. They have been there for decades, and never did anything to benefit the masses. This is not about the interests of banks or cell phone companies, it is about providing services to ordinary Zimbabweans," he said.

Mr Mandivenga said that the campaign by Mr Terry had not surprised Econet. "Our friends in the banking system have told us about his campaigns to try and preserve the status quo in which less than 3% of our people had access to the formal financial system, and where thousands of people had to line up every month for hours just to access their own money, or travel all day just to find a CABS branch. This is not the future."

EcoCash

Source: Econet

Does Prophet Magaya's anointing oil work?

Yes
14.29%
No
71.43%
Spiritual matters
14.29%
14

Comments

News Updates

Email:

Latest News

'Mutasa threat to Zanu-PF' - ZANU-PF seems to have been rattled by a s...

by Staff reporter | 30 January 2015 | 355 Views

MDC-T by-election boycott ignored by other political parties - FOUR ca...

by Staff reporter | 30 January 2015 | 171 Views

MDC-T threatens action over Kereke - THE MDC-T has again threatened to...

by Staff reporter | 30 January 2015 | 186 Views

'I'm not scared,' says Mutasa - FORMER Zanu-PF secretary for administr...

by Staff reporter | 30 January 2015 | 352 Views

Mphoko blows +$18,000 on hotel accommodation - Newly appointed Preside...

by Staff reporter | 30 January 2015 | 427 Views

Python eater jailed 9 years - A Zimunya businessman, Archwell Maramba,...

by Staff reporter | 30 January 2015 | 285 Views

Cop-bashing apostolic sect member denied bail - High Court judge Justi...

by Staff reporter | 30 January 2015 | 127 Views

Teachers' union seeks corporal punishment reinstatement - Progressive ...

by Staff reporter | 30 January 2015 | 141 Views

'Zimbabwe producing half-baked graduates' - Most of the thousands of s...

by Staff reporter | 30 January 2015 | 266 Views

Chidhakwa, Defence ministry in bitter tussle - Mines minister Walter C...

by Staff reporter | 30 January 2015 | 338 Views

Cabinet ministers bleeding Zesa ousted - Ministers, senior civil serva...

by Staff reporter | 30 January 2015 | 776 Views

America ready to assist Zimbabwe - America is waiting for a signal fro...

by Staff reporter | 30 January 2015 | 759 Views

Acting President Mnangagwa bemoans road carnage - Acting President Emm...

by Staff reporter | 30 January 2015 | 654 Views

Tsvangirai's MDC-T seeks to bar by-elections - The main opposition MDC...

by Staff reporter | 30 January 2015 | 568 Views

Manzou blow for Grace Mugabe - Lawyers have forced authorities to unde...

by Staff reporter | 30 January 2015 | 1159 Views

Zanu-PF in a fix over Mutasa - There is apparently serious disagreemen...

by Staff reporter | 30 January 2015 | 1099 Views

Mutasa dismisses 'absurd' hearing - Former Zanu-PF secretary for admin...

by Staff reporter | 30 January 2015 | 790 Views

Tax reduction the answer, says Biti - Government has been urged to con...

by Staff reporter | 30 January 2015 | 459 Views

No pay rises this year, says RBZ chief - Reserve Bank Governor John Ma...

by Staff reporter | 30 January 2015 | 409 Views

Death row inmate loses appeal - The Supreme Court has rejected an app...

by Fidelis Munyoro | 30 January 2015 | 1874 Views

MDC-T activist fined for smuggling fire arm

by Staff Reporter | 30 January 2015 | 1291 Views

Political bullies will end with devolution of power - Zimbabwe has bec...

by Themba Mthethwa | 29 January 2015 | 1783 Views

Mutodi acquitted of $500 000 fraud charge - PROPERTY developer-cum-mus...

by Staff reporter | 29 January 2015 | 1914 Views

Tsvangirai goes on Epworth walkabout - Movement for Democratic Change ...

by Staff reporter | 29 January 2015 | 2373 Views

Prophet Magaya to unveil new 'anointing oil' with resurrection power -...

by Staff reporter | 29 January 2015 | 3119 Views

Nurse offers 'sexual healing' to pregnant patients - A MALE nurse sta...

by Staff reporter | 29 January 2015 | 6272 Views

Car sex back-fires - There was drama at Unit O shops in Chitungwiza on...

by Staff reporter | 29 January 2015 | 7229 Views

SA school defends racial segregation - Johannesburg - A school in Pret...

by Staff reporter | 29 January 2015 | 2683 Views

Entertainment

Mugabe, Mujuru at Harare Gallery

by A.A.V. Amasi | 28 January 2015 | 5205 Views

Prof Jonathan Moyo says 'Zimbabwe to meet digitisation deadline in Jun...

by Farirai Machivenyika | 27 January 2015 | 2138 Views

DJ stabbed by lover - A MATSHOBANE suburb disk jockey (29) got more t...

by Staff reporter | 27 January 2015 | 4742 Views

Bulawayo movie Qiniso out in February - THE much anticipated movie, Qi...

by Showbiz Reporter | 26 January 2015 | 2238 Views

Where is omasiganda music now?

by Fred Zindi | 26 January 2015 | 2345 Views

Ringo billed for pre-Valentines Bash in Bulawayo

by Bongani Ndlovu | 26 January 2015 | 3579 Views

The return of Alick Macheso

by Entertainment Correspondent | 24 January 2015 | 4119 Views

Chigubhu vows to continue cracking people's ribs

by Staff Reporter | 23 January 2015 | 2775 Views
iBlog

Time To Kiss Zimbabwe Goodbye Forever.

By israel dubethings fall apart at zanupf. brother turns against brother, sister betrays sister. the center cannot hold anymore. as the walls of oppression and discrimination collapse, matebeles must make sure that they do not find themselves lost i... Read More
myAfroTube 03 November 2014 ago

Is Pregnancy Putting Your Sexual Life On Pause?

it is often believed that once you become pregnant there is no way that you can have sexual intercourse until that baby is born, which results in placing a strong hold on different couples sex lives. in this article we are going to focus on how yo... Read More
adoniadennis 08 December 2014 ago