Breaking News

EcoCash open to every bank in Zimbabwe

by Ndou Paul
11 February 2013 | 4705 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

Could there be war if Grace Mugabe becomes President?

Yes
74.33%
No
9.08%
Who cares?
16.59%
639

Comments

Latest Classifieds (Click Here For More)

News Updates

Email:

Latest News

Mujuru faction supporters fired - Alleged Vice-President Joice Mujuru...

by Staff Reporter | 01 November 2014 | 1798 Views

'Even marriages do fail' president Mugabe says - PRESIDENT Robert Muga...

by Staff Reporter | 01 November 2014 | 920 Views

MDC-T will survive 'palace coup' unlike Zanu-PF's 'bedroom coup' Tsvan...

by Staff Reporter | 01 November 2014 | 1067 Views

State media rebuked for negative news on Mujuru - Zanu-PF secretary fo...

by Staff Reporter | 01 November 2014 | 1072 Views

Zanu-PF differences did not shake the house to its core - I think a qu...

by Nathaniel Manheru | 01 November 2014 | 885 Views

Bosso forgives Charles Sibanda - CHARLES Sibanda has been given a lif...

by Ricky Zililo | 01 November 2014 | 562 Views

Bosso, Chiredzi match moved to Monday - HIGHLANDERS FC's league match ...

by Sikhumbuzo Moyo | 01 November 2014 | 355 Views

'Chiwenga is Grace Mugabe's brother': Claims

by Staff Reporter | 01 November 2014 | 2188 Views

Death threats over maintenance order - A Harare man is reportedly thre...

by Prosper Dembedza | 01 November 2014 | 407 Views

Macheso, hubby to have cellphone relationship - Sharon Macheso and her...

by Lovemore Meya | 01 November 2014 | 670 Views

Top cop resigns under unclear circumstances - Senior police officer Co...

by Staff reporter | 01 November 2014 | 953 Views

Mugabe caps 1 063 at GZU - President Mugabe yesterday conferred degree...

by Staff reporter | 01 November 2014 | 269 Views

Woman lashes at magistrate over maintenance - A BULAWAYO provincial m...

by Lethokuhle Moyo | 01 November 2014 | 390 Views

Sugar mummy infects Ben10 with HIV - ONE of the boys who teamed up wit...

by Leonard Ncube | 01 November 2014 | 991 Views

Prostitute jailed for false rape report - A GWANDA prostitute will spe...

by Marvelous Moyo | 01 November 2014 | 450 Views

Policeman assaults noisemakers - A POLICE officer based at Luveve Poli...

by Plaxcedes Hove | 01 November 2014 | 425 Views

Macheso, hubby officially separate - SHARON Macheso and her husband Ku...

by Lovemore Meya | 01 November 2014 | 490 Views

Granny granted maintenance - AN abusive 68-year-old Entumbane man was ...

by Lethokuhle Moyo | 01 November 2014 | 315 Views

Police raid squatter camp, 40 arrested - POLICE raided Killarney squat...

by Loveness Bepete | 01 November 2014 | 368 Views

Mugabe speech after Politburo - Audio - ...

by Staff reporter | 01 November 2014 | 615 Views

Mujuru on the ropes - Vice President Joice Mujuru's camp was left on ...

by Felex Share and Lloyd Gumbo | 01 November 2014 | 651 Views

Steward Bank lose $300,000 to robbers - STEWARD Bank formerly TN has l...

by Munyaradzi Musiiwa | 01 November 2014 | 561 Views

Tsvangirai confirms working with some in Zanu-PF - MDC-T leader Mr Mor...

by Staff reporter | 01 November 2014 | 1046 Views

Tsvangirai defends his call for protests against Mugabe - MDC-T leader...

by Staff reporter | 01 November 2014 | 413 Views

Mujuru's lawyer under probe - The Law Society of Zimbabwe will launch ...

by Staff reporter | 01 November 2014 | 483 Views

Dr Zobha escapes jail by whisker over maintenance - Veteran radio and ...

by Tendai Rupapa | 01 November 2014 | 601 Views

Jabulani Sibanda booted out - Elders of the Zimbabwe National Liberati...

by Lloyd Gumbo and Susan Nyabunze | 01 November 2014 | 1100 Views

Mugabe wants to quit says Zambia's new president

by Staff Reporter | 31 October 2014 | 10168 Views

Pastor caught engaging bonking policeman's wife in a car - A married M...

by Staff reporter | 01 November 2014 | 8525 Views

Reasons why Grace Mugabe attacked Joice Mujuru - Ongoing attempts to e...

by Staff reporter | 31 October 2014 | 8470 Views

Entertainment

Our hands are clean, says DJ Munya

by Court reporter | 31 October 2014 | 2763 Views

Oliver Mtukudzi to get 'real' PhD - ICONIC musician Oliver Mtukudzi is...

by Staff reporte | 30 October 2014 | 3249 Views

Zimbabwe's JJ survives Big Brother Africa eviction... again - Zimbabw...

by Staff reporter | 27 October 2014 | 2244 Views

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

by Staff reporter | 23 October 2014 | 1651 Views

LadyBee Anondida - Official video

by Staff Reporter | 23 October 2014 | 4392 Views

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

by Staff reporter | 20 October 2014 | 3626 Views
iBlog