Zimbabwe: Ecocash Spreads to Kombis

Mergers, Acquisitions and Financial Results

Econet Wireless has announced that businesses that accept payments in EcoCash are now able to exchange them for cash at Econet Wireless Zimbabwe approved banks. In a statement, Econet said hundreds of companies have already signed agreements to take EcoCash payments which they can cash in at TN Bank.

Other banks were expected to offer the service within two weeks.

"We are working to get all banks on board by the end of October," said Darlington Mandivenga, a senior Econet executive.

Meanwhile, more than 200 commuter omnibus operators have also started to accept EcoCash for fares.

The service, which began a week ago, has proved popular and Econet plans to have the majority of kombis accepting EcoCash before the end of the month.

The use of EcoCash for payment is simple and quick to complete.

Almost 2 million Econet customers are already using EcoCash to send money.

People using EcoCash need not carry cash on them. All they need is load up their E-wallet, which then allows them to make small payments of any amount.